Ridgefield, Connecticut Business Gets SBA-Guaranteed Funding from Mercantil Commercebank National As

An SBA loan from Mercantil Commercebank National As typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Ridgefield, Connecticut business owner got a $500,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Ridgefield, Connecticut, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Mercantil Commercebank National As, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS
RIDGEFIELD, CT 06877

SBA Loan Lender

MERCANTIL COMMERCEBANK NATIONAL AS
11 E 51ST ST
NEW YORK CITY, NY 10022

This loan for a small business was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers

Loan Approval Date

12/23/2003

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 6 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels 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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Mercantil Commercebank National As so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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