Passumpsic Savings Bank Gives Bank Loan to Glass Product Manufacturing Made Of Purchased Glass Company

Small business loans in Vermont are hard to find these days. We take a look at one Vermont small business loan, provided by a Vermont bank, that was approved by the SBA.

You can learn something about getting a small business loan in Lyndon, Vermont by studying this loan to a local company, made back in 2006. Banks like Passumpsic Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GLASS PRODUCT MANUFACTURING MADE OF PURCHASED GLASS
LYNDON, VT 05849

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

327215 - Glass Product Manufacturing Made of Purchased Glass

Loan Approval Date

9/12/2006

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 Passumpsic Savings Bank 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:

Family and Friend Investors - Your First Financiers

SBA Approved Banks in Saint Johnsbury, Vermont

Getting an SBA Loan in Vermont