Business Loan from Chittenden Trust Company Given to Hotels And Motels Company

An SBA loan from Chittenden Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wilmington, Vermont business owner got a $376,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Chittenden Trust Company, out of Burlington, Vermont. The loan was granted and they received $376,000 to help grow their Wilmington, Vermont business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
WILMINGTON, VT 05363

SBA Loan Lender

CHITTENDEN TRUST COMPANY
TWO BURLINGTON SQUARE
BURLINGTON, VT 05401

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/6/2002

Loan Approval Gross Amount

$376,000

Loan Approval from the SBA

Of the total $376,000 loan amount, the SBA guaranteed $282,000.

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 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Chittenden Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Chittenden Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Incubators

Best Burlington, Vermont Banks for Small Business

SBA Vermont Lenders