Getting an SBA Loan for Yarn Spinning Mills

With these commercial loans for yarn spinning mills, the SBA guarantees the lender that the loan will be repaid. This yarn spinning mills loan for $25,000 was given to a Vermont entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Johnson, Vermont was able to borrow $25,000 from Union Bank. The SBA made the loan possible by guaranteeing $12,500 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: YARN SPINNING MILLS
JOHNSON, VT 05656

SBA Loan Lender

UNION BANK
20 LOWER MAIN ST
MORRISVILLE, VT 05661

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

313111 - Yarn Spinning Mills

Loan Approval Date

9/21/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 5 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Union Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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