Entrepreneur Works With Manchester Center, Vermont Bank to Get an SBA Loan

Want to talk with a Manchester Center, Vermont bank about an SBA loan? Here's one Vermont business loan, issued by a Manchester Center bank, that was approved by the SBA.

Applying for an SBA loan with Berkshire Bank worked out well for our friends at one local business in Londonderry, Vermont. They got an SBA loan for $276,600. Way to go!

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
LONDONDERRY, VT 05148

SBA Loan Lender

BERKSHIRE BANK
4928 MAIN ST
MANCHESTER CENTER, VT 05255

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721191 - Bed-and-Breakfast Inns

Loan Approval Date

10/31/2003

Loan Approval Gross Amount

$276,600

Loan Approval from the SBA

Of the total $276,600 loan amount, the SBA guaranteed $207,450.

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

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Microlending as a Small Business Funding Source

Good Banks for Small Business in Manchester Center, Vermont

Where to Get an SBA Loan Vermont