Chittenden Trust Company Provides SBA Loan to Buy Plato's Closet Franchise

Need money to buy a Plato's Closet franchise? Chittenden Trust Company has a history of making these loans and they are guaranteed by the SBA.

Plato's Closet franchise loans are available to Williston, Vermont entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Chittenden Trust Company, based in Burlington, Vermont, issued an SBA franchise loan for a Plato's Closet franchise in 2001. We've got all the details on this Vermont small business loan.

SBA Loan Borrower

PLATO'S CLOSET
WILLISTON, VT 05495

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and are well trained in SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

11/2/2001

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Plato's Closet franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Chittenden Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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