SBA Loan from Newalliance Bank Helps Store Retailers Company

An SBA loan from Newalliance Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Milford, Connecticut business owner got a $120,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Newalliance Bank, out of New Haven, Connecticut. The loan was granted and they received $120,000 to help grow their Milford, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
MILFORD, CT 06460

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

5/13/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Newalliance Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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