Entrepreneur Works With Saint Johnsbury, Vermont Bank to Get an SBA Loan

Want to talk with a Saint Johnsbury, Vermont bank about a small business loan? Here's one Vermont business loan, issued by a Saint Johnsbury bank, that was approved by the SBA.

Applying for an SBA loan with Community National Bank worked out well for our friends at one local firm in Orleans, Vermont. They got an SBA loan for $63,000. Nice!

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
ORLEANS, VT 05860

SBA Loan Lender

COMMUNITY NATIONAL BANK
857 MEMORIAL DR, STE 2, PRICE
SAINT JOHNSBURY, VT 05819

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves 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

5399 - General Merchandise Stores

NAICS Code

452910 - Warehouse Clubs and Superstores

Loan Approval Date

9/5/2001

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $53,550.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community National 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.

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