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November 15, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Derby, Business Loans > Community National Bank Derby Business Loans > Water Well Drilling Contractors Loan | ||||
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Banks in Vermont
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Water Well Drilling Contractors Business LoansWith these business loans for water well drilling contractors, the SBA guarantees the lender that the loan will be repaid. This water well drilling contractors loan for $300,000 was given to a Vermont entrepreneur in 2002. This small business knew how to go about getting a business bank loan. Based in West Burke, Vermont, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Community National Bank, based in Derby, Vermont. SBA Loan Borrower COMPANY TYPE: WATER WELL DRILLING CONTRACTORS SBA Loan Lender COMMUNITY NATIONAL BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235810 - Water Well Drilling Contractors Loan Approval Date 11/8/2002 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. While you may be able to find other ways to get money to start a business, 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: Small Bank Loans in Derby, Vermont
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