Local Business Gets a Vermont Bank Loan

Business loans in Vermont are are few and far betweeen these days. We take a look at one Vermont business loan, provided by a Vermont bank, that was approved by the SBA.

You can learn something about getting a small business loan in Brandon, Vermont by studying this loan to a local business, made back in 2000. Banks like Lake Sunapee Bank, Fsb may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
BRANDON, VT 05733

SBA Loan Lender

LAKE SUNAPEE BANK, FSB
2 PARK ST
BRANDON, VT 05733

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

Loan Approval Date

5/5/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

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 3 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Lake Sunapee Bank, Fsb had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Lake Sunapee Bank, Fsb 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.

Related Links:

Realistic Debt Financing Options

Small Bank Loans in Brandon, Vermont

Getting an SBA Loan in Vermont