Business Loan from Ridgestone Bank Given to Home Health Care Services Company

Ridgestone Bank has a track record as a leading provider of SBA loans. Find out how this Connecticut entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Haven, Connecticut was able to borrow $1,037,000 from Ridgestone Bank. The SBA made the loan possible by guaranteeing $777,750 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
NEW HAVEN, CT 06511

SBA Loan Lender

RIDGESTONE BANK
13925 W NORTH AVE
BROOKFIELD, WI 53005

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621610 - Home Health Care Services

Loan Approval Date

7/25/2007

Loan Approval Gross Amount

$1,037,000

Loan Approval from the SBA

Of the total $1,037,000 loan amount, the SBA guaranteed $777,750.

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 450 employees. This SBA loan request indicated that the loan would help generate 100 new jobs and retain 350 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Ridgestone Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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