Business Loan from Union Savings Bank Given to Beauty Shops Company

Union Savings 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 Connecticut entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Danbury, Connecticut was able to borrow $3,000 from Union Savings Bank. The SBA made the loan possible by guaranteeing $2,400 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
DANBURY, CT 06810

SBA Loan Lender

UNION SAVINGS BANK
225 MAIN ST
DANBURY, CT 06810

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

9/13/2000

Loan Approval Gross Amount

$3,000

Loan Approval from the SBA

Of the total $3,000 loan amount, the SBA guaranteed $2,400.

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 6 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Danbury CT, you ought to talk with a local Danbury SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Danbury businesses.

We can help you find the best banks for small businesses in Danbury or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Financing Your Business

Small Business Banks in Danbury, Connecticut

Getting an SBA Loan in Connecticut