Entrepreneur Works With Middlebury, Vermont Bank to Get an SBA Loan

Thinking about meeting with a Middlebury, Vermont bank about a small business loan? Here's one Vermont business loan, issued by a Middlebury bank, that was approved by the SBA.

Applying for an SBA loan with National Bank Of Middlebury worked out well for our friends at one local business in Waitsfield, Vermont. They got an SBA loan for $50,000. Nice!

SBA Loan Borrower

COMPANY TYPE: BOOK PUBLISHERS
WAITSFIELD, VT 05673

SBA Loan Lender

NATIONAL BANK OF MIDDLEBURY
30-32 MAIN ST
MIDDLEBURY, VT 05753

This lender processed this business 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

511130 - Book Publishers

Loan Approval Date

1/30/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, 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:

Borrowing Money from Friends and Family

Banks in Middlebury, Vermont

SBA Lenders in Vermont