Where to Get Capital for Insurance Related Activities

Looking for SBA loans for insurance related activities? An SBA loan may be just what you've been looking for. This $70,000 insurance related activities loan was issued by a New Jersey bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cheshire, Connecticut was able to borrow $70,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $35,000 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE RELATED ACTIVITIES
CHESHIRE, CT 06410

SBA Loan Lender

TD BANKNORTH
1000 MACARTHUR BLVD
MAHWAH, NJ 07430

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

524298 - Insurance Related Activities

Loan Approval Date

9/5/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Td Banknorth had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Td Banknorth 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.

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