Entrepreneur Works With Saint Johnsbury, Vermont Bank to Get an SBA Loan

Get to know Saint Johnsbury, Vermont banks that specialize in small business loans and know how to work with entrepreneurs. Passumpsic Savings Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Lyndonville, Vermont starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Passumpsic Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
LYNDONVILLE, VT 05851

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

621310 - Chiropractors

Loan Approval Date

10/25/2006

Loan Approval Gross Amount

$63,200

Loan Approval from the SBA

Of the total $63,200 loan amount, the SBA guaranteed $31,600.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Art of Bootstrapping

Banks in Saint Johnsbury, Vermont

Getting a Business Loan in Vermont