Community National Bank SBA Loan to Retail Bakeries Company

An SBA loan from Community National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Newport, Vermont business owner got a $49,600 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newport, Vermont was able to borrow $49,600 from Community National Bank. The SBA made the loan possible by guaranteeing $39,680 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
NEWPORT, VT 05855

SBA Loan Lender

COMMUNITY NATIONAL BANK
5578 US RTE 2
DERBY, VT 05829

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$49,600

Loan Approval from the SBA

Of the total $49,600 loan amount, the SBA guaranteed $39,680.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Community National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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