Where to Get Capital for General Merchandise Stores

With these SBA loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $34,000 was given to a Connecticut entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Torrington, Connecticut was able to borrow $34,000 from Northwest Community Bank. The SBA made the loan possible by guaranteeing $27,200 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
TORRINGTON, CT 06790

SBA Loan Lender

NORTHWEST COMMUNITY BANK
86 MAIN ST
WINSTED, CT 06098

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

9/21/2000

Loan Approval Gross Amount

$34,000

Loan Approval from the SBA

Of the total $34,000 loan amount, the SBA guaranteed $27,200.

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 loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

Getting a Small Business Loan

Find an SBA Lender in Winsted, Connecticut

SBA Participating Banks in Connecticut