Entrepreneur Works With Burlington, Vermont Bank to Get an SBA Loan

Get to know Burlington, Vermont banks that specialize in small business loans and know how to work with entrepreneurs. Chittenden Trust Company is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in South Hero, Vermont starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Chittenden Trust Company. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
SOUTH HERO, VT 05486

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This SBA bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending history and a deep knowledge SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

11/25/2003

Loan Approval Gross Amount

$79,000

Loan Approval from the SBA

Of the total $79,000 loan amount, the SBA guaranteed $67,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add 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.

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

Related Links:

Obtaining Funding - Friends and Family

SBA 7A Banks for Burlington, Vermont Loans

Getting an SBA Loan in Vermont