Borrowing Money for Commercial and Institutional Building Construction

Looking for bank loans for commercial and institutional building construction? Try the SBA. This $81,500 commercial and institutional building construction loan was issued by a Vermont bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rutland, Vermont was able to borrow $81,500 from Berkshire Bank. The SBA made the loan possible by guaranteeing $61,125 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
RUTLAND, VT 05701

SBA Loan Lender

BERKSHIRE BANK
4928 MAIN ST
MANCHESTER CENTER, VT 05255

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

NAICS Code

233320 - Commercial and Institutional Building Construction

Loan Approval Date

10/30/2002

Loan Approval Gross Amount

$81,500

Loan Approval from the SBA

Of the total $81,500 loan amount, the SBA guaranteed $61,125.

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 5 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Rutland 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.

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