Thomaston, Connecticut Bank Gives SBA Loan to Local Passenger Transportation, N.E.C Company

Get to know Thomaston, Connecticut banks that specialize in SBA loans and know how to work with entrepreneurs. Thomaston Savings Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Bristol, Connecticut starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Thomaston Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LOCAL PASSENGER TRANSPORTATION, N.E.C
BRISTOL, CT 06010

SBA Loan Lender

THOMASTON SAVINGS BANK
203 MAIN ST
THOMASTON, CT 06787

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4119 - Local Passenger Transportation, N.E.C

NAICS Code

485991 - Special Needs Transportation

Loan Approval Date

3/21/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. This SBA loan request did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 Thomaston Savings 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.

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Banks in Thomaston, Connecticut

Where to Get an SBA Loan Connecticut