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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Bridgeport, Business Loans > The Community's Bank Bridgeport Business Loans > Investment Advice Loan | ||||
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Bridgeport Bank Loan
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Bridgeport, Connecticut Bank Gives SBA Loan to Investment Advice CompanyWant to talk with a Bridgeport, Connecticut bank about a business loan? Here's one Connecticut business loan, issued by a Bridgeport bank, that was approved by the SBA. Applying for an SBA loan with The Community's Bank worked out well for our friends at one local business in Hartford, Connecticut. The business was able to get an SBA loan for $70,000. Nice! SBA Loan Borrower COMPANY TYPE: INVESTMENT ADVICE SBA Loan Lender THE COMMUNITY'S BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 6282 - Investment Advice NAICS Code 523920 - Portfolio Management Loan Approval Date 10/12/2001 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. 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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Community's Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Community's 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: Small Business Banks in Bridgeport, Connecticut
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