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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 > Fine Arts Schools Loan | ||||
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We Needed a Small Business Loan in Johnson, Vermont and We Got One!
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Financing for Fine Arts SchoolsWith these commercial loans for fine arts schools, the SBA guarantees the lender that the loan will be repaid. This fine arts schools loan for $150,000 was given to a Vermont entrepreneur in 2003. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with The Merchants Bank, out of South Burlington, Vermont. The loan was granted and they received $150,000 to help grow their Johnson, Vermont business. SBA Loan Borrower COMPANY TYPE: FINE ARTS SCHOOLS SBA Loan Lender THE MERCHANTS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 611610 - Fine Arts Schools Loan Approval Date 6/6/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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: Dealing With Venture Capitalists SBA Banks in South Burlington, Vermont
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