Entrepreneur Works With Bridgeport, Connecticut Bank to Get an SBA Loan

Thinking about meeting with a Bridgeport, Connecticut bank about a small business loan? Here's one Massachusetts business loan, issued by a Bridgeport bank, that was approved by the SBA.

Applying for an SBA loan with People's United Bank worked out well for our friends at one local firm in Canton, Massachusetts. The business was able to get an SBA loan for $150,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: PLUMBING AND HYDRONIC HEATING SUPPLIES
CANTON, MA 02021

SBA Loan Lender

PEOPLE'S UNITED BANK
850 MAIN ST
BRIDGEPORT, CT 06604

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5074 - Plumbing and Hydronic Heating Supplies

NAICS Code

421720 - Plumbing and Heating Equipment and Supplies Wholesalers

Loan Approval Date

10/18/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 16 employees. This SBA loan request 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?

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.

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:

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