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December 18, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > South Burlington, Business Loans > The Merchants Bank South Burlington Business Loans > General Merchandise Stores Loan | ||||
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Vermont Bank SBA Loans
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The Merchants Bank SBA Loan to General Merchandise Stores CompanyLooking to get a Vermont small business loan? Here's one Vermont business loan that was approved by the SBA. This growing firm needed an SBA business loan in Essex Junction, Vermont back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from The Merchants Bank, operating out of South Burlington, Vermont. Here are the details on this Vermont small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender THE MERCHANTS BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5399 - General Merchandise Stores Loan Approval Date 4/14/2000 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees. 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Merchants Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Merchants Bank 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. Related Links: SBA Approved Banks in South Burlington, Vermont
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