Fairfield County Bank Corp Gives Bank Loan to Commercial Equipment Wholesalers Company

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

This business, based in Ridgefield (census Name For Ri, Connecticut, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Fairfield County Bank Corp. We've got the inside scoop on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL EQUIPMENT WHOLESALERS
RIDGEFIELD (CENSUS NAME FOR RI, CT 06877

SBA Loan Lender

FAIRFIELD COUNTY BANK CORP
374 MAIN ST
RIDGEFIELD, CT 06877

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

421440 - Commercial Equipment Wholesalers

Loan Approval Date

11/3/2005

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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