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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Madison, Business Loans > Rbs Citizens Madison Business Loans > Heating Equipment Loan | ||||
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Connecticut Bank SBA Loans
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SBA Loan from Rbs Citizens Helps Heating Equipment CompanyRbs Citizens and the SBA work together to get business loans for growing small businesses. Here's an example of how a Connecticut entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Rbs Citizens, out of Madison, Connecticut. The loan was granted and they received $125,000 to help grow their Old Saybrook, Connecticut business. SBA Loan Borrower COMPANY TYPE: HEATING EQUIPMENT SBA Loan Lender RBS CITIZENS This SBA loan 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. SIC Code 3433 - Heating Equipment NAICS Code 333414 - Heating Equipment Manufacturing Loan Approval Date 5/5/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. 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 business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rbs Citizens 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: Best Banks for Small Business in Madison, Connecticut
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