SBA Loan from Simsbury Bank & Trust Inc. Helps Food Stores Company

An SBA loan from Simsbury Bank & Trust Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Simsbury, Connecticut business owner got a $350,000 loan.

Getting a small business loan in Simsbury, Connecticut was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Simsbury Bank & Trust Inc., operating out of Simsbury, Connecticut. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD STORES
SIMSBURY, CT 06070

SBA Loan Lender

SIMSBURY BANK & TRUST INC.
760 HOPMEADOW ST
SIMSBURY, CT 06070

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

12/20/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Simsbury Bank & Trust Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Simsbury Bank & Trust Inc. 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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