Raising Money for Photographic Equipment and Supplies Merchant Wholesalers

With these bank loans for photographic equipment and supplies merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This photographic equipment and supplies merchant wholesalers loan for $150,000 was given to a Connecticut entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Milford, Connecticut was able to borrow $150,000 from Newalliance Bank. The SBA made the loan possible by guaranteeing $127,500 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHIC EQUIPMENT AND SUPPLIES
MILFORD, CT 06460

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5043 - Photographic Equipment and Supplies

NAICS Code

423410 - Photographic Equipment and Supplies Merchant Wholesalers

Loan Approval Date

6/4/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 3 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Newalliance Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

Related Links:

Financing Your Business

Banks in New Haven, Connecticut

Connecticut SBA Bank Lenders