Getting an SBA Loan for Nonmetallic Mineral Product Manufacturing

Looking for commercial loans for nonmetallic mineral product manufacturing? Talk to a banker who works with the SBA. This $750,000 nonmetallic mineral product manufacturing loan was issued by a Connecticut bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank - Southern Connecticut, out of New Haven, Connecticut. The loan was granted and they received $750,000 to help grow their Durham, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: NONMETALLIC MINERAL PRODUCT MANUFACTURING
DURHAM, CT 06422

SBA Loan Lender

BANK - SOUTHERN CONNECTICUT
215 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

327999 - Nonmetallic Mineral Product Manufacturing

Loan Approval Date

7/14/2004

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 27 employees. The loan application did not indicate that the SBA funding recipient planned to use the money 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank - Southern Connecticut had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank - Southern Connecticut made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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