SBA Loan from Bank - Southern Connecticut Helps Vending Machine Operators Company

An SBA loan from Bank - Southern Connecticut typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a North Haven, Connecticut business owner got a $215,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank - Southern Connecticut, out of New Haven, Connecticut. The loan was granted and they received $215,000 to help grow their North Haven, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
NORTH HAVEN, CT 06473

SBA Loan Lender

BANK - SOUTHERN CONNECTICUT
215 CHURCH ST
NEW HAVEN, CT 06510

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

8/11/2004

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $161,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank - Southern Connecticut 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.

Related Links:

Alternative Financing

SBA Participating Banks in New Haven, Connecticut

SBA Connecticut Banks