Litchfield, Connecticut Business Gets SBA-Guaranteed Funding from Thomaston Savings Bank

Thomaston Savings Bank has a track record as a leading provider of SBA loans. Find out how this Connecticut entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Litchfield, Connecticut was able to borrow $378,000 from Thomaston Savings Bank. The SBA made the loan possible by guaranteeing $283,500 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LITCHFIELD, CT 06759

SBA Loan Lender

THOMASTON SAVINGS BANK
203 MAIN ST
THOMASTON, CT 06787

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

722110 - Full-Service Restaurants

Loan Approval Date

5/14/2007

Loan Approval Gross Amount

$378,000

Loan Approval from the SBA

Of the total $378,000 loan amount, the SBA guaranteed $283,500.

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 25 employees. The SBA loan application for the borrower indicated that the loan would help generate 8 new jobs and retain 17 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 Thomaston Savings 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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