Barre/berlin, Vermont Business Gets SBA-Guaranteed Funding from Community National Bank

Community National Bank has a track record as a leading provider of SBA loans. Find out how this Vermont entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Barre/berlin, Vermont, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Community National Bank, based in Montpelier, Vermont.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WIRING SUPPLIES
BARRE/BERLIN, VT 05641

SBA Loan Lender

COMMUNITY NATIONAL BANK
95 STATE ST
MONTPELIER, VT 05601

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5063 - Electrical Wiring Supplies

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

6/12/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Getting a Small Business Loan

SBA Approved Banks in Montpelier, Vermont

Browse All Business Loan Sources for Vermont