The Bank Of Bennington Gives SBA Loan to Bed-And-Breakfast Inns Company

SBA loans in Vermont are tough to come by these days. We take a look at one Vermont SBA loan, provided by a Vermont bank, that was approved by the SBA.

You can learn something about getting a small business loan in Dorset, Vermont by studying this loan to a local business, made back in 2005. Banks like The Bank Of Bennington may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
DORSET, VT 05251

SBA Loan Lender

THE BANK OF BENNINGTON
155 NORTH ST
BENNINGTON, VT 05201

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

721191 - Bed-and-Breakfast Inns

Loan Approval Date

6/10/2005

Loan Approval Gross Amount

$133,000

Loan Approval from the SBA

Of the total $133,000 loan amount, the SBA guaranteed $113,050.

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

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Business Incubators

Best Bennington, Vermont Banks for Small Business

Getting an SBA Loan in Vermont