Danbury, Connecticut Entrepreneur Gets a Small Business Loan

Would a Connecticut bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Connecticut bank, which offers SBA loans to Connecticut entrepreneurs.

Getting a small business loan in Danbury, Connecticut was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Savings Bank Of Danbury. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
DANBURY, CT 06810

SBA Loan Lender

SAVINGS BANK OF DANBURY
220 MAIN ST
DANBURY, CT 06810

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

1/22/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $20,000. How would you spend $20,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Debt Financing

SBA Banks in Danbury, Connecticut

Getting a Business Loan in Connecticut