Borrowing Money for Drinking Places

With these loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $800,000 was given to a Connecticut entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Norwalk, Connecticut was able to borrow $800,000 from Newalliance Bank. The SBA made the loan possible by guaranteeing $600,000 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
NORWALK, CT 06850

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

5/28/2004

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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 10 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Norwalk CT, you ought to talk with a local Norwalk SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norwalk businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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