Burlington, Vermont Lender Lends Money to Motor Vehicle Dealers Company

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

Applying for an SBA loan with Chittenden Trust Company worked out well for our friends at one local firm in Swanton, Vermont. They got an SBA loan for $133,400. Awesome!

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
SWANTON, VT 05488

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

3/1/2004

Loan Approval Gross Amount

$133,400

Loan Approval from the SBA

Of the total $133,400 loan amount, the SBA guaranteed $66,700.

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 documents indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Chittenden Trust Company 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:

Angel Investors

Find an SBA Lender in Burlington, Vermont

Where to Get an SBA Loan Vermont