People's United Bank SBA Loan to Barber Shops Company

People's United Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Connecticut entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with People's United Bank, out of Hartford, Connecticut. The loan was granted and they received $45,886 to help grow their West Hartford, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: BARBER SHOPS
WEST HARTFORD, CT 06107

SBA Loan Lender

PEOPLE'S UNITED BANK
ONE FINANCIAL PLZ, THE GOLD B
HARTFORD, CT 06103

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7241 - Barber Shops

Loan Approval Date

2/2/2000

Loan Approval Gross Amount

$45,886

Loan Approval from the SBA

Of the total $45,886 loan amount, the SBA guaranteed $36,708.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $45,886 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Hartford, Connecticut

Getting an SBA Loan in Connecticut