Borrowing Money for Paint and Coating Manufacturing

Looking for small business loans for paint and coating manufacturing? An SBA loan may be just what you've been looking for. This $450,000 paint and coating manufacturing loan was issued by a Connecticut bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Branford, Connecticut was able to borrow $450,000 from People's United Bank. The SBA made the loan possible by guaranteeing $337,500 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTS, VARNISHES, LACQUERS, AND ENAMELS
BRANFORD, CT 06405

SBA Loan Lender

PEOPLE'S UNITED BANK
850 MAIN ST
BRIDGEPORT, CT 06604

This commercial loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2851 - Paints, Varnishes, Lacquers, and Enamels

NAICS Code

325510 - Paint and Coating Manufacturing

Loan Approval Date

9/12/2002

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Branford CT, you ought to talk with a local Branford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Branford businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into People's United Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding From a Venture Capitalist

SBA Approved Banks in Bridgeport, Connecticut

Getting an SBA Loan in Connecticut