Newalliance Bank Gives SBA Loan to Furniture And Fixtures Company

Would a Connecticut bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Connecticut bank, which offers SBA loans to Connecticut entrepreneurs.

This company, based in Norwalk, Connecticut, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Newalliance Bank. We've got the inside scoop on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE AND FIXTURES
NORWALK, CT 06854

SBA Loan Lender

NEWALLIANCE BANK
79 NEW CANAAN AVE
NORWALK, CT 06850

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2599 - Furniture and Fixtures

NAICS Code

337122 - Nonupholstered Wood Household Furniture Manufacturing

Loan Approval Date

7/5/2001

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Newalliance Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Newalliance Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Microlending as a Small Business Funding Source

Banks in Norwalk, Connecticut

Getting an SBA Loan in Connecticut