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December 19, 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 > Full-Service Restaurants Loan | ||||
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Getting an SBA 7A Loan in Groton, Connecticut
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People's United Bank Gives SBA Loan to Full-Service Restaurants CompanyConnecticutSmall business loans are available to Connecticut small business owners through the SBA. In this case, a Connecticut bank provides the loan. This company, based in Groton, Connecticut, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from People's United Bank. We've got the inside scoop on this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender PEOPLE'S UNITED BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 11/4/2005 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 7A Banks in Bridgeport, Connecticut
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