Business Loan from Apple Valley Bank & Trust Given to Electrical Contractors Company

Apple Valley Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Connecticut entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Plantsville, Connecticut, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Apple Valley Bank & Trust, based in Cheshire, Connecticut.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS
PLANTSVILLE, CT 06479

SBA Loan Lender

APPLE VALLEY BANK & TRUST
286 MAPLE AVE
CHESHIRE, CT 06410

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.

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

9/27/2005

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 3 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Apple Valley Bank & Trust 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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