New Milford, Connecticut Business Gets SBA-Guaranteed Funding from Union Savings Bank

An SBA loan from Union Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Milford, Connecticut business owner got a $260,000 loan.

This growing company knew how to go about getting a business bank loan. Based in New Milford, Connecticut, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Union Savings Bank, based in Danbury, Connecticut.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL FITNESS FACILITIES
NEW MILFORD, CT 06776

SBA Loan Lender

UNION SAVINGS BANK
225 MAIN ST
DANBURY, CT 06810

This SBA loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA provides a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

5/2/2000

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

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 25 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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