Ceramic Wall and Floor Tile Manufacturing SBA Loans

With these SBA loans for ceramic wall and floor tile manufacturing, the SBA guarantees the lender that the loan will be repaid. This ceramic wall and floor tile manufacturing loan for $95,625 was given to a Connecticut entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Norwalk, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Fairfield County Bank Corp, based in Ridgefield, Connecticut.

SBA Loan Borrower

COMPANY TYPE: CERAMIC WALL AND FLOOR TILE
NORWALK, CT 06855

SBA Loan Lender

FAIRFIELD COUNTY BANK CORP
374 MAIN ST
RIDGEFIELD, CT 06877

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3253 - Ceramic Wall and Floor Tile

NAICS Code

327122 - Ceramic Wall and Floor Tile Manufacturing

Loan Approval Date

11/7/2000

Loan Approval Gross Amount

$95,625

Loan Approval from the SBA

Of the total $95,625 loan amount, the SBA guaranteed $76,500.

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 6 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Angel Investors

Small Business Banks in Ridgefield, Connecticut

SBA Connecticut Lenders