Local Business Gets a Connecticut Business Loan

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

Getting a small business loan in Bristol, Connecticut was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Valley Bank. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCTS
BRISTOL, CT 06010

SBA Loan Lender

VALLEY BANK
FOUR RIVERSIDE AVE
BRISTOL, CT 06010

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3499 - Fabricated Metal Products

NAICS Code

332710 - Machine Shops

Loan Approval Date

12/19/2001

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

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 9 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Valley Bank and they will explain how you can get an SBA loan for your company.

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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