SBA Loan from Webster Bank Helps Beauty Salons Company

Webster Bank has a track record as a leading provider of SBA loans. Find out how this Connecticut entrepreneur received an SBA loan from them.

Getting a small business loan in Somers, Connecticut was an essential business goal for this firm back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Webster Bank, operating out of Waterbury, Connecticut. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
Somers, CT 06071

SBA Loan Lender

WEBSTER BANK
145 BANK ST
WATERBURY, CT 06702

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

812112 - Beauty Salons

Loan Approval Date

1/7/2008

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 24 employees. The SBA loan documents indicated that the loan would help generate 24 new jobs and retain 24 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Webster Bank and they will explain how you can get an SBA loan for your company.

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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