Growing Company Gets a Connecticut Bank Loan

ConnecticutBank loans are available to Connecticut firms through the SBA. In this case, a Connecticut bank provides the loan.

You can learn something about getting a small business loan in Torrington, Connecticut by studying this loan to a local company, made back in 2005. Banks like 1st National Bank - Litchfield may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: BLANKBOOK, LOOSELEAF BINDERS, AND DEVICES MANUFACTURING
TORRINGTON, CT 06790

SBA Loan Lender

1ST NATIONAL BANK - LITCHFIELD
13 NORTH ST
LITCHFIELD, CT 06759

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

323118 - Blankbook, Looseleaf Binders, and Devices Manufacturing

Loan Approval Date

12/1/2005

Loan Approval Gross Amount

$315,000

Loan Approval from the SBA

Of the total $315,000 loan amount, the SBA guaranteed $157,500.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st National Bank - Litchfield and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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