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December 19, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Morrisville, Business Loans > Union Bank Morrisville Business Loans > Women's, Children's, And Infants' Clothing And Accessories Wholesalers Loan | ||||
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Union Bank
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Union Bank SBA Loan to Women's, Children's, And Infants' Clothing And Accessories Wholesalers CompanyUnion Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Vermont entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Colchester, Vermont was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Union Bank, operating out of Morrisville, Vermont. Here are the details on this Vermont small business loan. SBA Loan Borrower COMPANY TYPE: WOMEN'S, CHILDREN'S, AND INFANTS' CLOTHING AND ACCESSORIES WHOLESALERS SBA Loan Lender UNION BANK This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422330 - Women's, Children's, and Infants' Clothing and Accessories Wholesalers Loan Approval Date 1/9/2002 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Morrisville, Vermont
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