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December 19, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > New Milford, Business Loans > Webster Bank New Milford Business Loans > Physicians Loan | ||||
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Webster Bank Small Business Loans New Milford (census Name For N, CT
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New Milford (census Name For N, Connecticut Business Gets SBA-Guaranteed Funding from Webster BankWebster Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Connecticut entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Milford (census Name For N, Connecticut was able to borrow $213,000 from Webster Bank. The SBA made the loan possible by guaranteeing $106,500 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender WEBSTER BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 621111 - Physicians Loan Approval Date 12/28/2005 Loan Approval Gross Amount $213,000 Loan Approval from the SBA Of the total $213,000 loan amount, the SBA guaranteed $106,500. 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 18 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 18 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great funding source There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Find an SBA Lender in New Milford, Connecticut
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