1st National Bank - Litchfield Gives Business Loan to Charter Bus Industry Company

ConnecticutSmall business loans are available to Connecticut small business owners 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 2006. 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: CHARTER BUS INDUSTRY
TORRINGTON, CT 06790

SBA Loan Lender

1ST NATIONAL BANK - LITCHFIELD
397 MAIN ST
TORRINGTON, CT 06790

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485510 - Charter Bus Industry

Loan Approval Date

9/6/2006

Loan Approval Gross Amount

$388,000

Loan Approval from the SBA

Of the total $388,000 loan amount, the SBA guaranteed $291,000.

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 32 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 1st National Bank - Litchfield 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.

Related Links:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Torrington, Connecticut

Connecticut SBA 7A Lenders