Fairfield County Bank Corp Gives SBA Loan to Drycleaning Plants Company

Business loans in Connecticut are are few and far betweeen these days. We take a look at one Connecticut business loan, provided by a Connecticut bank, that was approved by the SBA.

Getting a small business loan in Ridgefield, Connecticut was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Fairfield County Bank Corp. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
RIDGEFIELD, CT 06840

SBA Loan Lender

FAIRFIELD COUNTY BANK CORP
DANBURY RD
RIDGEFIELD, CT 06877

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7216 - Drycleaning Plants

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

4/9/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 18 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

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.

We can help you find the best banks for small businesses in Ridgefield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Getting a Small Business Loan

SBA Approved Banks in Ridgefield, Connecticut

SBA Participating Banks in Connecticut