Business Loan from Peoples Tr Co - St. Albans Given to Site Preparation Contractors Company

An SBA loan from Peoples Tr Co - St. Albans typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an East Fairfield, Vermont business owner got a $44,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Peoples Tr Co - St. Albans, out of Saint Albans, Vermont. The loan was granted and they received $44,000 to help grow their East Fairfield, Vermont business.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
EAST FAIRFIELD, VT 05448

SBA Loan Lender

PEOPLES TR CO - ST. ALBANS
25 KINGMAN ST
SAINT ALBANS, VT 05478

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

238910 - Site Preparation Contractors

Loan Approval Date

1/17/2007

Loan Approval Gross Amount

$44,000

Loan Approval from the SBA

Of the total $44,000 loan amount, the SBA guaranteed $22,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had no employees. This SBA loan request did not indicate that the small business promised to use the funding 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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Peoples Tr Co - St. Albans are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Determining Proper Capital Structure for a Business

Banks in Saint Albans, Vermont

SBA Vermont Banks