Suffield, Connecticut Business Gets SBA-Guaranteed Funding from 1st National Bank - Suffield

An SBA loan from 1st National Bank - Suffield typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Suffield, Connecticut business owner got a $18,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Suffield, Connecticut, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was 1st National Bank - Suffield, based in Suffield, Connecticut.

SBA Loan Borrower

COMPANY TYPE: SCHOOLS AND EDUCATIONAL SERVICES
SUFFIELD, CT 06078

SBA Loan Lender

1ST NATIONAL BANK - SUFFIELD
30 BRIDGE ST
SUFFIELD, CT 06078

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8299 - Schools and Educational Services

NAICS Code

611430 - Professional and Management Development Training

Loan Approval Date

10/5/2000

Loan Approval Gross Amount

$18,000

Loan Approval from the SBA

Of the total $18,000 loan amount, the SBA guaranteed $14,400.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank - Suffield 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.

Related Links:

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