Entrepreneur Works With Burlington, Vermont Bank to Get an SBA Loan

Get to know Burlington, Vermont banks that specialize in business loans and know how to work with entrepreneurs. Chittenden Trust Company is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
BURLINGTON, VT 05401

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

9/24/2002

Loan Approval Gross Amount

$63,500

Loan Approval from the SBA

Of the total $63,500 loan amount, the SBA guaranteed $53,975.

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

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Chittenden Trust Company so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Burlington, Vermont

SBA Lenders in Vermont