Where to Get Capital for Transportation Equipment and Supplies Wholesalers

With these small business loans for transportation equipment and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This transportation equipment and supplies wholesalers loan for $90,000 was given to a Connecticut entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Manchester, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Savings Inst. Bank & Trust, based in Willimantic, Connecticut.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES
MANCHESTER, CT 06040

SBA Loan Lender

SAVINGS INST. BANK & TRUST
803 MAIN ST
WILLIMANTIC, CT 06226

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5088 - Transportation Equipment and Supplies

NAICS Code

421860 - Transportation Equipment and Supplies Wholesalers

Loan Approval Date

3/16/2001

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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SBA Participating Banks in Willimantic, Connecticut

SBA Participating Banks in Connecticut