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December 19, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Saint Johnsbury, Business Loans > Passumpsic Savings Bank Saint Johnsbury Business Loans > Full-Service Restaurants Loan | ||||
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Banks Doing SBA Loans in Vermont
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Saint Johnsbury, Vermont Bank Gives SBA Loan to Full-Service Restaurants CompanyThinking about meeting with a Saint Johnsbury, Vermont bank about a small business loan? Here's one New Hampshire business loan, issued by a Saint Johnsbury bank, that was approved by the SBA. Applying for an SBA loan with Passumpsic Savings Bank worked out well for our friends at one local firm in Whitefield (census Name For Wh, New Hampshire. They received an SBA loan for $15,000. Great job! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender PASSUMPSIC SAVINGS BANK The lender provided this 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 722110 - Full-Service Restaurants Loan Approval Date 12/19/2003 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. 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: SBA 7A Banks in Saint Johnsbury, Vermont
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