Entrepreneur Works With New London, Connecticut Bank to Get an SBA Loan

Want to talk with a New London, Connecticut bank about a business loan? Here's one Connecticut business loan, issued by a New London bank, that was approved by the SBA.

Applying for an SBA loan with Rbs Citizens worked out well for our friends at one local firm in Uncasville (montville (sta.)), Connecticut. They received an SBA loan for $30,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: PET CARE SERVICES
UNCASVILLE (MONTVILLE (STA.)), CT 06382

SBA Loan Lender

RBS CITIZENS
63 EUGENE O'NEILL DR
NEW LONDON, CT 06320

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

812910 - Pet Care Services

Loan Approval Date

9/24/2002

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Bank Credit Lines

Banks in New London, Connecticut

Getting a Business Loan in Connecticut