SBA Loan from Berkshire Bank Helps Lawyers Company

Berkshire Bank has a track record as a leading provider of SBA loans. Find out how this Vermont entrepreneur received an SBA loan from them.

Getting a small business loan in Rutland, Vermont was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Berkshire Bank, operating out of Rutland, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
RUTLAND, VT 05701

SBA Loan Lender

BERKSHIRE BANK
20-22 WEST ST
RUTLAND, VT 05701

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541110 - Lawyers

Loan Approval Date

8/30/2004

Loan Approval Gross Amount

$53,510

Loan Approval from the SBA

Of the total $53,510 loan amount, the SBA guaranteed $45,483.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Berkshire Bank and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

Best Rutland, Vermont Banks for Small Business

SBA Vermont Lenders