Passumpsic Savings Bank SBA Loan to Convenience Stores Company

Passumpsic Savings Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Vermont entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in East Burke, Vermont, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Passumpsic Savings Bank, based in Saint Johnsbury, Vermont.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
EAST BURKE, VT 05832

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

10/31/2002

Loan Approval Gross Amount

$156,600

Loan Approval from the SBA

Of the total $156,600 loan amount, the SBA guaranteed $78,300.

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 36 employees. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 43 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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