Connecticut Bank Loan Issued to Commercial Printing Company

ConnecticutSBA loans are available to Connecticut entrepreneurs through the SBA. In this case, a Massachusetts bank provides the loan.

Getting a small business loan in Enfield, Connecticut was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Newalliance Bank. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PRINTING
ENFIELD, CT 06082

SBA Loan Lender

NEWALLIANCE BANK
225 PARK AVE
WEST SPRINGFIELD, MA 01089

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2759 - Commercial Printing

NAICS Code

323114 - Quick Printing

Loan Approval Date

10/10/2002

Loan Approval Gross Amount

$89,000

Loan Approval from the SBA

Of the total $89,000 loan amount, the SBA guaranteed $75,650.

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 20 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $89,000 loan. Remember, you control your own destiny.

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:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in West Springfield, Massachusetts

Where to Get an SBA Loan Massachusetts