Men's and Boys' Cut and Sew Apparel Contractors Business Loans

Looking for business loans for men's and boys' cut and sew apparel contractors? An SBA loan may be just what you've been looking for. This $100,000 men's and boys' cut and sew apparel contractors loan was issued by a Vermont bank.

Getting a small business loan in Johnson, Vermont was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Chittenden Trust Company, operating out of Burlington, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: MEN'S AND BOYS' CUT AND SEW APPAREL CONTRACTORS
JOHNSON, VT 05656

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

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

315211 - Men's and Boys' Cut and Sew Apparel Contractors

Loan Approval Date

10/12/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Famous Venture Capitalists

Good Banks for Small Business in Burlington, Vermont

Vermont SBA 7A Lenders