Chittenden Trust Company Gives Business Loan to Farm And Garden Machinery And Equipment Wholesalers Company

Business loans in New York are are few and far betweeen these days. We take a look at one New York business loan, provided by a Vermont bank, that was approved by the SBA.

Getting a small business loan in Champlain, New York was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Chittenden Trust Company. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT WHOLESALERS
CHAMPLAIN, NY 12919

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421820 - Farm and Garden Machinery and Equipment Wholesalers

Loan Approval Date

9/27/2001

Loan Approval Gross Amount

$165,000

Loan Approval from the SBA

Of the total $165,000 loan amount, the SBA guaranteed $123,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company 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 typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Chittenden Trust Company are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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