People's United Bank Gives SBA Loan to Grocery Stores Company

Business loans in Connecticut are tough to come by these days. We take a look at one Connecticut business loan, provided by a Connecticut bank, that was approved by the SBA.

You can learn something about getting a small business loan in Brooklyn, Connecticut by studying this loan to a local business, made back in 2000. Banks like People's United Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
BROOKLYN, CT 06234

SBA Loan Lender

PEOPLE'S UNITED BANK
4 BROADWAY
NORWICH, CT 06360

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

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

3/28/2000

Loan Approval Gross Amount

$106,600

Loan Approval from the SBA

Of the total $106,600 loan amount, the SBA guaranteed $79,950.

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 13 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Incubators

Where to Get an SBA Loan in Norwich, Connecticut

Connecticut SBA 7A Lenders