SBA Loan from Newalliance Bank Helps Aluminum Foundries Company

Newalliance Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Connecticut entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Newalliance Bank, out of New Haven, Connecticut. The loan was granted and they received $100,000 to help grow their New Britain, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: ALUMINUM FOUNDRIES
NEW BRITAIN, CT 06051

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

This 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

331524 - Aluminum Foundries

Loan Approval Date

10/20/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 26 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your Business

If you want money for new small business in New Britain CT, you ought to talk with a local New Britain SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Britain businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Determining Proper Capital Structure for a Business

Banks in New Haven, Connecticut

SBA Participating Banks in Connecticut