Pleasant Valley, Connecticut Business Gets SBA-Guaranteed Funding from Simsbury Bank & Trust Inc.

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

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pleasant Valley, Connecticut was able to borrow $315,000 from Simsbury Bank & Trust Inc.. The SBA made the loan possible by guaranteeing $236,250 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
PLEASANT VALLEY, CT 06063

SBA Loan Lender

SIMSBURY BANK & TRUST INC.
760 HOPMEADOW ST
SIMSBURY, CT 06070

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services

Loan Approval Date

1/21/2000

Loan Approval Gross Amount

$315,000

Loan Approval from the SBA

Of the total $315,000 loan amount, the SBA guaranteed $236,250.

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 80 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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

Related Links:

Attracting Investors

Best Simsbury, Connecticut Banks for Small Business

Find an SBA Lender in Connecticut