South Burlington, Vermont Bank Gives SBA Loan to Full-Service Restaurants Company

Get business loans from a South Burlington, Vermont bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

The Merchants Bank is a South Burlington, Vermont small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Vermont company.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
RUTLAND, VT 05751

SBA Loan Lender

THE MERCHANTS BANK
275 KENNEDY DR
SOUTH BURLINGTON, VT 05403

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/21/2003

Loan Approval Gross Amount

$210,000

Loan Approval from the SBA

Of the total $210,000 loan amount, the SBA guaranteed $157,500.

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 52 employees. The SBA loan application for the borrower indicated that the loan would help retain 52 existing jobs.

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.

While you may be able to find business people willing to loan money, 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.

Related Links:

Getting a Small Business Loan

Small Business Banks in South Burlington, Vermont

Getting an SBA Loan in Vermont