Valley National Bank SBA Loan to Residential Care Facilities Company

An SBA loan from Valley National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Gaylordsville, Connecticut business owner got a $338,000 loan.

Getting a small business loan in Gaylordsville, Connecticut was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Valley National Bank, operating out of North Plainfield, New Jersey. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE FACILITIES
GAYLORDSVILLE, CT 06755

SBA Loan Lender

VALLEY NATIONAL BANK
1334 RTE 22 EAST
NORTH PLAINFIELD, NJ 07060

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623990 - Residential Care Facilities

Loan Approval Date

9/24/2003

Loan Approval Gross Amount

$338,000

Loan Approval from the SBA

Of the total $338,000 loan amount, the SBA guaranteed $253,500.

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 5 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Valley National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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SBA 7A Banks for North Plainfield, New Jersey Loans

Getting a Business Loan in New Jersey