Middletown, Connecticut Bank Lends Money to Mental Health Practitioners Company in Old Saybrook (census Name For, Connecticut

A Middletown, Connecticut SBA loan can be yours. Learn how one firm got a $24,300 business loan from this Connecticut bank.

This loan to a local firm is a good example of an SBA loan. Liberty Bank made the loan and the SBA guaranteed a portion of the loan. Many other Connecticut entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: MENTAL HEALTH PRACTITIONERS
OLD SAYBROOK (CENSUS NAME FOR, CT 06475

SBA Loan Lender

LIBERTY BANK
315 MAIN ST
MIDDLETOWN, CT 06457

This loan for a small business 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

621330 - Mental Health Practitioners

Loan Approval Date

9/11/2007

Loan Approval Gross Amount

$24,300

Loan Approval from the SBA

Of the total $24,300 loan amount, the SBA guaranteed $20,655.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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

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