Financing for General Line Grocery Wholesalers

With these commercial loans for general line grocery wholesalers, the SBA guarantees the lender that the loan will be repaid. This general line grocery wholesalers loan for $700,000 was given to a Connecticut entrepreneur in 2001.

Getting a small business loan in Salisbury, Connecticut was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Salisbury Bank & Trust Company, operating out of Lakeville, Connecticut. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LINE GROCERY WHOLESALERS
SALISBURY, CT 06068

SBA Loan Lender

SALISBURY BANK & TRUST COMPANY
5 BISSELL ST
LAKEVILLE, CT 06039

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan 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

422410 - General Line Grocery Wholesalers

Loan Approval Date

6/21/2001

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 37 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Salisbury Bank & Trust Company 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.

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