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November 15, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Brattleboro, Business Loans > Brattleboro S & L Association Brattleboro Business Loans > Eating Places Loan | ||||
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Brattleboro, Vermont SBA Banks
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Entrepreneur Works With Brattleboro, Vermont Bank to Get an SBA LoanA Brattleboro, Vermont business loan can be yours. Learn how a company got a $121,000 business loan from this Vermont bank. This loan to a local firm is a good example of an SBA loan. Brattleboro S & L Association made the loan and the SBA guaranteed a portion of the loan. Many other Vermont entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BRATTLEBORO S & L ASSOCIATION 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 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/31/2003 Loan Approval Gross Amount $121,000 Loan Approval from the SBA Of the total $121,000 loan amount, the SBA guaranteed $102,850. More Information on This SBA Loan The borrower borrowed this money for an existing 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 15 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Brattleboro S & L Association 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: Best Brattleboro, Vermont Banks for Small Business SBA Participating Banks in Vermont
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