Colchester, Connecticut Business Gets SBA-Guaranteed Funding from People's United Bank

An SBA loan from People's United Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Colchester, Connecticut business owner got a $17,000 loan.

Getting a small business loan in Colchester, Connecticut was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from People's United Bank, operating out of Bridgeport, Connecticut. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES
COLCHESTER, CT 06415

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

541511 - Custom Computer Programming Services

Loan Approval Date

6/14/2004

Loan Approval Gross Amount

$17,000

Loan Approval from the SBA

Of the total $17,000 loan amount, the SBA guaranteed $8,500.

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. The SBA loan application for the borrower indicated that the funding would help generate 2 new jobs.

Getting an SBA Loan For Your Business

If you are raising money in Colchester CT, you ought to talk with a local Colchester SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Colchester businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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 Bridgeport, Connecticut

Connecticut SBA 7A Lenders