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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Bridgeport, Business Loans > People's United Bank Bridgeport Business Loans > Computer Related Services Loan | ||||
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People's United Bank SBA Loan Fairfield, CT
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SBA Loan from People's United Bank Helps Computer Related Services CompanyPeople's United Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Connecticut entrepreneur was able to get a loan to take a small business to the next level. This business knew how to go about getting a business bank loan. Based in Fairfield, Connecticut, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was People's United Bank, based in Bridgeport, Connecticut. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender PEOPLE'S UNITED BANK The lender provided this loan for a small business 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 541519 - Computer Related Services Loan Approval Date 12/18/2002 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. 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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 12 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a business in Fairfield CT, you ought to talk with a local Fairfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fairfield businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Bridgeport, Connecticut
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