Plainville, Connecticut Entrepreneur Gets an SBA Loan

Searching for a Connecticut small business loan? This Connecticut entrepreneur got a small business loan, provided by a Connecticut bank that works with the SBA to help small business owners.

Getting a small business loan in Plainville, Connecticut was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Farmington Savings Bank. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: GARMENT PRESSING AND CLEANERS AGENTS FOR LAUNDRIES
PLAINVILLE, CT 06062

SBA Loan Lender

FARMINGTON SAVINGS BANK
475 BROAD ST
BRISTOL, CT 06010

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7212 - Garment Pressing and Cleaners Agents for Laundries

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

6/13/2000

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $21,600.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $27,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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