Business Loan from Litchfield Bancorp Given to Supermarkets And Grocery Stores Company

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

This business knew how to go about getting a business bank loan. Based in Litchfield, Connecticut, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Litchfield Bancorp, based in Litchfield, Connecticut.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
LITCHFIELD, CT 06759

SBA Loan Lender

LITCHFIELD BANCORP
294 WEST ST
LITCHFIELD, CT 06759

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

8/30/2006

Loan Approval Gross Amount

$525,000

Loan Approval from the SBA

Of the total $525,000 loan amount, the SBA guaranteed $393,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Litchfield Bancorp that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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Small Bank Loans in Litchfield, Connecticut

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