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November 15, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > South Burlington, Business Loans > The Merchants Bank South Burlington Business Loans > Water, Sewer, And Pipeline Construction Loan | ||||
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Vermont Bank SBA Loans
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South Burlington, Vermont Bank Lends Money to Water, Sewer, And Pipeline Construction Company in Jericho, VermontWant to talk with a South Burlington, Vermont bank about an SBA loan? Here's one Vermont business loan, issued by a South Burlington bank, that was approved by the SBA. Applying for an SBA loan with The Merchants Bank worked out well for our friends at one local business in Jericho, Vermont. The business was able to get an SBA loan for $225,000. Sweet! SBA Loan Borrower COMPANY TYPE: WATER, SEWER, AND PIPELINE CONSTRUCTION SBA Loan Lender THE MERCHANTS 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 234910 - Water, Sewer, and Pipeline Construction Loan Approval Date 8/27/2001 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 7 employees. The loan application indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $225,000 loan. Remember, where there is a will, there is a way! 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 for South Burlington, Vermont Loans
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