Business Loan from Simsbury Bank & Trust Inc. Given to Ornamental Shrub And Tree Services Company

An SBA loan from Simsbury Bank & Trust Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Hartford, Connecticut business owner got a $16,500 loan.

Getting a small business loan in New Hartford, Connecticut was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Simsbury Bank & Trust Inc., operating out of Granby, Connecticut. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: ORNAMENTAL SHRUB AND TREE SERVICES
NEW HARTFORD, CT 06057

SBA Loan Lender

SIMSBURY BANK & TRUST INC.
11 HARTFORD AVE
GRANBY, CT 06035

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0783 - Ornamental Shrub and Tree Services

NAICS Code

561730 - Landscaping Services

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$16,500

Loan Approval from the SBA

Of the total $16,500 loan amount, the SBA guaranteed $13,200.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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