Lake Sunapee Bank, Fsb SBA Loan to Retail Stores Company

An SBA loan from Lake Sunapee Bank, Fsb typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brandon, Vermont business owner got a $78,000 loan.

Getting a small business loan in Brandon, Vermont was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Lake Sunapee Bank, Fsb, operating out of Brandon, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL 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 created this program to minimize the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453998 - Store Retailers

Loan Approval Date

12/19/2002

Loan Approval Gross Amount

$78,000

Loan Approval from the SBA

Of the total $78,000 loan amount, the SBA guaranteed $66,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Lake Sunapee Bank, Fsb so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Debt Financing

Small Business Banks in Brandon, Vermont

SBA Lenders in Vermont