Mascoma Savings Bank SBA Loan to Apparel Accessories And Other Apparel Manufacturing Company

An SBA loan from Mascoma Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Montpelier, Vermont business owner got a $2,000,000 loan.

Getting a small business loan in Montpelier, Vermont was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Mascoma Savings Bank, operating out of White River Junction, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING
MONTPELIER, VT 05602

SBA Loan Lender

MASCOMA SAVINGS BANK
243 SYKES MOUNTAIN AVE
WHITE RIVER JUNCTION, VT 05001

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

315999 - Apparel Accessories and Other Apparel Manufacturing

Loan Approval Date

3/6/2007

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 3 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.

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

If you need money to start business in Montpelier VT, you ought to talk with a local Montpelier SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Montpelier businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Mascoma Savings 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.

Related Links:

Business Incubators

Best Banks for Small Business in White River Junction, Vermont

SBA Vermont Lenders