SBA Loan from Passumpsic Savings Bank Helps Millwork Company

An SBA loan from Passumpsic Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lyndonville, Vermont business owner got a $58,000 loan.

Getting a small business loan in Lyndonville, Vermont was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Passumpsic Savings Bank, operating out of Saint Johnsbury, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: MILLWORK
LYNDONVILLE, VT 05851

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

321918 - Millwork

Loan Approval Date

9/25/2003

Loan Approval Gross Amount

$58,000

Loan Approval from the SBA

Of the total $58,000 loan amount, the SBA guaranteed $29,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Passumpsic Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Passumpsic Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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