Newtown Savings Bank Gives SBA Loan to General Automotive Repair Company

Would a Connecticut small business loan help your small business to grow and prosper? If so, you may want to talk with this Connecticut bank, which offers SBA loans to Connecticut entrepreneurs.

This small business, based in New Milford (census Name For N, Connecticut, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Newtown Savings Bank. We've got the inside scoop on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
NEW MILFORD (CENSUS NAME FOR N, CT 06776

SBA Loan Lender

NEWTOWN SAVINGS BANK
39 MAIN ST
NEWTOWN, CT 06470

This SBA small 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

811111 - General Automotive Repair

Loan Approval Date

6/3/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in New Milford (census Name For N CT, you ought to talk with a local New Milford (census Name For N SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Milford (census Name For N businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Newtown Savings Bank 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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