Bridgeport, Connecticut Lender Lends Money to Fuel Oil Dealers Company

Find Bridgeport, Connecticut banks that specialize in small business loans and know how to work with entrepreneurs. The Community's Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Bloomfield, Connecticut starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from The Community's Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FUEL OIL DEALERS
BLOOMFIELD, CT 06002

SBA Loan Lender

THE COMMUNITY'S BANK
211 STATE ST
BRIDGEPORT, CT 06604

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5983 - Fuel Oil Dealers

NAICS Code

454311 - Heating Oil Dealers

Loan Approval Date

9/25/2001

Loan Approval Gross Amount

$67,000

Loan Approval from the SBA

Of the total $67,000 loan amount, the SBA guaranteed $56,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Community's Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Community's Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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