Vermont Small Business Loan Issued to Supermarkets And Grocery Stores Company

VermontBank loans are available to Vermont firms through the SBA. In this case, a Vermont bank provides the loan.

Getting a small business loan in Lyndonville, Vermont was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from The Merchants Bank. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
LYNDONVILLE, VT 05851

SBA Loan Lender

THE MERCHANTS BANK
275 KENNEDY DR
SOUTH BURLINGTON, VT 05403

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

445110 - Supermarkets and Grocery Stores

Loan Approval Date

9/14/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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. The Merchants Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Merchants 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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