Getting an SBA Loan for Farm and Garden Machinery and Equipment Merchant Wholesalers

With these business loans for farm and garden machinery and equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm and garden machinery and equipment merchant wholesalers loan for $90,000 was given to a Vermont entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Middlebury, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Community National Bank, based in Lyndonville, Vermont.

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS
MIDDLEBURY, VT 05753

SBA Loan Lender

COMMUNITY NATIONAL BANK
1033 BROAD ST
LYNDONVILLE, VT 05851

This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

423820 - Farm and Garden Machinery and Equipment Merchant Wholesalers

Loan Approval Date

3/7/2005

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $45,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 28 employees. The SBA loan documents indicated that the loan would help retain 28 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Getting an SBA Loan in Vermont