Troy, Vermont Entrepreneur Gets a Bank Loan

Would a Vermont business loan help your company expand? If so, you may want to talk with this Vermont bank, which offers SBA loans to Vermont entrepreneurs.

This small business, based in Troy, Vermont, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Community National Bank. We've got the inside scoop on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
TROY, VT 05868

SBA Loan Lender

COMMUNITY NATIONAL BANK
4811 US RTE 5
DERBY, VT 05829

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

4/12/2004

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 Community National 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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