Burlington, Vermont Bank Lends Money to Motor Vehicle Dealers Company in Milton, Vermont

Find Burlington, Vermont banks that specialize in SBA loans and know how to work with entrepreneurs. Chittenden Trust Company is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Milton, Vermont starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Chittenden Trust Company. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
Milton, VT 05468

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This SBA 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

441229 - Motor Vehicle Dealers

Loan Approval Date

6/26/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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 Chittenden Trust Company 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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