Connecticut Small Business Loan Issued to Wood Products Company

Business loans in Connecticut are tough to come by these days. We take a look at one Connecticut business loan, provided by a Rhode Island bank, that was approved by the SBA.

Getting a small business loan in Hamden, Connecticut was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Textron Business Credit, Inc.. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD PRODUCTS
HAMDEN, CT 06518

SBA Loan Lender

TEXTRON BUSINESS CREDIT, INC.
40 WESTMINISTER ST
PROVIDENCE, RI 02903

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2499 - Wood Products

NAICS Code

321999 - Wood Product Manufacturing

Loan Approval Date

1/2/2002

Loan Approval Gross Amount

$465,000

Loan Approval from the SBA

Of the total $465,000 loan amount, the SBA guaranteed $348,750.

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 30 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Hamden CT, you ought to talk with a local Hamden SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hamden businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Textron Business Credit, Inc. 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:

VC Firms on Twitter

Best Providence, Rhode Island Banks for Small Business

SBA Lenders in Rhode Island