How to Get a Loan for Gambling Industries

With these business loans for gambling industries, the SBA guarantees the lender that the loan will be repaid. This gambling industries loan for $288,000 was given to a Vermont entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Rutland, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Lake Sunapee Bank, Fsb, based in Rutland, Vermont.

SBA Loan Borrower

COMPANY TYPE: GAMBLING INDUSTRIES
RUTLAND, VT 05701

SBA Loan Lender

LAKE SUNAPEE BANK, FSB
104 MERCHANTS ROW
RUTLAND, VT 05701

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713290 - Gambling Industries

Loan Approval Date

9/13/2004

Loan Approval Gross Amount

$288,000

Loan Approval from the SBA

Of the total $288,000 loan amount, the SBA guaranteed $216,000.

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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

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

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Lake Sunapee Bank, Fsb had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Lake Sunapee Bank, Fsb made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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