Bristol, Connecticut Business Gets SBA-Guaranteed Funding from Valley Bank

An SBA loan from Valley Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bristol, Connecticut business owner got a $140,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Bristol, Connecticut, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Valley Bank, based in Bristol, Connecticut.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING
BRISTOL, CT 06010

SBA Loan Lender

VALLEY BANK
FOUR RIVERSIDE AVE
BRISTOL, CT 06010

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1711 - Plumbing, Heating, and Air-Conditioning

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

1/28/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 22 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Valley Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Valley Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Banking Deregulation's Effects on Entrepreneurship

Best Bristol, Connecticut Banks for Small Business

SBA Connecticut Lenders