Berkshire Bank Gives Bank Loan to Bed-And-Breakfast Inns Company

Bank loans in Vermont are hard to find these days. We take a look at one Vermont bank loan, provided by a Vermont bank, that was approved by the SBA.

Getting a small business loan in West Dover, Vermont was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Berkshire Bank. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: BED-AND-BREAKFAST INNS
WEST DOVER, VT 05356

SBA Loan Lender

BERKSHIRE BANK
4928 MAIN ST
MANCHESTER CENTER, VT 05255

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

721191 - Bed-and-Breakfast Inns

Loan Approval Date

8/20/2007

Loan Approval Gross Amount

$53,900

Loan Approval from the SBA

Of the total $53,900 loan amount, the SBA guaranteed $26,950.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Startup Funding Tip

Small Business Banks in Manchester Center, Vermont

Vermont SBA 7A Lenders