Ncb, Fsb Gives Bank Loan to Food Stores Company

SBA loans in Connecticut are tough to come by these days. We take a look at one Connecticut SBA loan, provided by an Ohio bank, that was approved by the SBA.

Getting a small business loan in Madison, Connecticut was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Ncb, Fsb. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD STORES
MADISON, CT 06443

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

4/18/2002

Loan Approval Gross Amount

$365,000

Loan Approval from the SBA

Of the total $365,000 loan amount, the SBA guaranteed $273,750.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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