Cheshire, Connecticut Bank Lends Money to Amusement And Recreation Industries Company in Southington, Connecticut

Want to talk with a Cheshire, Connecticut bank about an SBA loan? Here's one Connecticut business loan, issued by a Cheshire bank, that was approved by the SBA.

Applying for an SBA loan with Apple Valley Bank & Trust worked out well for our friends at one local firm in Southington, Connecticut. The business was able to get an SBA loan for $716,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES
SOUTHINGTON, CT 06489

SBA Loan Lender

APPLE VALLEY BANK & TRUST
286 MAPLE AVE
CHESHIRE, CT 06410

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

713990 - Amusement and Recreation Industries

Loan Approval Date

4/6/2006

Loan Approval Gross Amount

$716,000

Loan Approval from the SBA

Of the total $716,000 loan amount, the SBA guaranteed $537,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Apple Valley Bank & Trust 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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