New Haven, Connecticut Lender Lends Money to Rooming And Boarding Houses Company

Find New Haven, Connecticut banks that specialize in business loans and know how to work with entrepreneurs. Newalliance Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Philadelphia, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Newalliance Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ROOMING AND BOARDING HOUSES
PHILADELPHIA, PA 19124

SBA Loan Lender

NEWALLIANCE BANK
195 CHURCH ST
NEW HAVEN, CT 06510

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721310 - Rooming and Boarding Houses

Loan Approval Date

5/21/2007

Loan Approval Gross Amount

$358,350

Loan Approval from the SBA

Of the total $358,350 loan amount, the SBA guaranteed $268,762.

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 7 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $358,350 loan. Remember, anyone can do it... so why not you?

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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