SBA Loan from Northwest Community Bank Helps Optical Goods Stores Company

An SBA loan from Northwest Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Simsbury (census Name For Sims, Connecticut business owner got a $125,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Simsbury (census Name For Sims, Connecticut was able to borrow $125,000 from Northwest Community Bank. The SBA made the loan possible by guaranteeing $62,500 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTICAL GOODS STORES
SIMSBURY (CENSUS NAME FOR SIMS, CT 06089

SBA Loan Lender

NORTHWEST COMMUNITY BANK
86 MAIN ST
WINSTED, CT 06098

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

446130 - Optical Goods Stores

Loan Approval Date

8/31/2005

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Northwest Community Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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