Connecticut Business Loan Issued to Hotels And Motels Company

ConnecticutBusiness loans are available to Connecticut business owners through the SBA. In this case, a Connecticut bank provides the loan.

Getting a small business loan in Derby, Connecticut was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Rbs Citizens. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
DERBY, CT 06418

SBA Loan Lender

RBS CITIZENS
209 CHURCH ST
NEW HAVEN, CT 06510

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

8/17/2004

Loan Approval Gross Amount

$303,000

Loan Approval from the SBA

Of the total $303,000 loan amount, the SBA guaranteed $227,250.

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 35 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Rbs Citizens and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA 7A Banks for New Haven, Connecticut Loans

Getting an SBA Loan in Connecticut