Farmington Savings Bank SBA Loan to Business Services Company

Looking to get a Connecticut SBA loan? Here's one Connecticut business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Bristol, Connecticut, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Farmington Savings Bank, based in Bristol, Connecticut.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
BRISTOL, CT 06010

SBA Loan Lender

FARMINGTON SAVINGS BANK
475 BROAD ST
BRISTOL, CT 06010

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

7389 - Business Services

Loan Approval Date

6/9/2000

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $28,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request 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

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Farmington Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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