Killington, Vermont Business Gets SBA-Guaranteed Funding from Lake Sunapee Bank, Fsb

An SBA loan from Lake Sunapee Bank, Fsb typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Killington, Vermont business owner got a $300,000 loan.

This business knew how to go about getting a business bank loan. Based in Killington, Vermont, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Lake Sunapee Bank, Fsb, based in Woodstock, Vermont.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
KILLINGTON, VT 05751

SBA Loan Lender

LAKE SUNAPEE BANK, FSB
1 BOND ST
WOODSTOCK, VT 05091

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/14/2004

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 2 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lake Sunapee Bank, Fsb and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

SBA Participating Banks in Woodstock, Vermont

SBA Participating Banks in Vermont