New Haven, Connecticut Entrepreneur Gets an SBA Loan

Would a Connecticut bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New Jersey bank, which offers SBA loans to Connecticut entrepreneurs.

You can learn something about getting a small business loan in New Haven, Connecticut by studying this loan to a local company, made back in 2004. Banks like Cit Small Business Lending Corp may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: VOCATIONAL REHABILITATION SERVICES
NEW HAVEN, CT 06510

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624310 - Vocational Rehabilitation Services

Loan Approval Date

9/1/2004

Loan Approval Gross Amount

$855,000

Loan Approval from the SBA

Of the total $855,000 loan amount, the SBA guaranteed $641,250.

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 5 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $855,000 loan. Remember, things become real when you believe you can achieve them!

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:

Dealing With Venture Capitalists

Best Banks in Livingston, New Jersey

New Jersey SBA Bank Lenders