Commercial Loans for Single Family Housing Construction

With these commercial loans for single family housing construction, the SBA guarantees the lender that the loan will be repaid. This single family housing construction loan for $17,000 was given to a Connecticut entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Uncasville (montville (sta.)), Connecticut was able to borrow $17,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $8,500 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
UNCASVILLE (MONTVILLE (STA.)), CT 06382

SBA Loan Lender

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

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

233210 - Single Family Housing Construction

Loan Approval Date

4/23/2001

Loan Approval Gross Amount

$17,000

Loan Approval from the SBA

Of the total $17,000 loan amount, the SBA guaranteed $8,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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:

Realistic Debt Financing Options

SBA 7A Lenders in New London, Connecticut

Getting an SBA Loan in Connecticut