Borrowing Money for Interior Design Services

With these loans for interior design services, the SBA guarantees the lender that the loan will be repaid. This interior design services loan for $43,200 was given to a Connecticut entrepreneur in 2004.

Getting a small business loan in North Grosvenordale, Connecticut was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Newalliance Bank, operating out of West Springfield, Massachusetts. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: INTERIOR DESIGN SERVICES
NORTH GROSVENORDALE, CT 06255

SBA Loan Lender

NEWALLIANCE BANK
225 PARK AVE
WEST SPRINGFIELD, MA 01089

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541410 - Interior Design Services

Loan Approval Date

12/9/2004

Loan Approval Gross Amount

$43,200

Loan Approval from the SBA

Of the total $43,200 loan amount, the SBA guaranteed $32,400.

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 did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Newalliance 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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