1st National Bank - Litchfield SBA Loan to Paint And Wallpaper Stores Company

An SBA loan from 1st National Bank - Litchfield typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Torrington, Connecticut business owner got a $243,000 loan.

This business knew how to go about getting a business bank loan. Based in Torrington, Connecticut, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was 1st National Bank - Litchfield, based in Torrington, Connecticut.

SBA Loan Borrower

COMPANY TYPE: PAINT AND WALLPAPER STORES
TORRINGTON, CT 06790

SBA Loan Lender

1ST NATIONAL BANK - LITCHFIELD
990 TORRINGFORD ST
TORRINGTON, CT 06790

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444120 - Paint and Wallpaper Stores

Loan Approval Date

4/11/2007

Loan Approval Gross Amount

$243,000

Loan Approval from the SBA

Of the total $243,000 loan amount, the SBA guaranteed $182,250.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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