Passumpsic Savings Bank SBA Loan to Convenience Stores Company

Passumpsic Savings Bank has a track record as a leading provider of SBA loans. Find out how this Vermont entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in East Burke, Vermont was able to borrow $62,800 from Passumpsic Savings Bank. The SBA made the loan possible by guaranteeing $31,400 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
EAST BURKE, VT 05832

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

6/18/2002

Loan Approval Gross Amount

$62,800

Loan Approval from the SBA

Of the total $62,800 loan amount, the SBA guaranteed $31,400.

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 36 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 44 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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