Berkshire Bank SBA Loan to Hotels And Motels Company

Searching for a Vermont SBA loan? Here's one Vermont business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Dorset, Vermont, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Berkshire Bank, based in Manchester Center, Vermont.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
DORSET, VT 05251

SBA Loan Lender

BERKSHIRE BANK
4928 MAIN ST
MANCHESTER CENTER, VT 05255

When it made this small business loan, this bank was part of the SBA's Certified Lenders Program (CLP). This program is designed to offer speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

Loan Approval Date

1/13/2000

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $420,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 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.

Next Steps for Getting an SBA Loan

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

We can help you find the best banks for small businesses in Dorset 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.

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