Vermont SBA Loan Issued to Full-Service Restaurants Company

Looking to get a Vermont small business loan? This Vermont entrepreneur got a small business loan, provided by a Vermont bank that works with the SBA to help small business owners.

This small business, based in St. Johnsbury, Vermont, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Passumpsic Savings Bank. We've got the inside scoop on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ST. JOHNSBURY, VT 05819

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/19/2004

Loan Approval Gross Amount

$31,000

Loan Approval from the SBA

Of the total $31,000 loan amount, the SBA guaranteed $23,250.

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 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

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SBA Banks in Saint Johnsbury, Vermont

Getting an SBA Loan in Vermont