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November 15, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Bristol, Business Loans > Valley Bank Bristol Business Loans > General Automotive Repair Loan | ||||
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Valley Bank Small Business Loan
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Get an SBA Loan for General Automotive RepairLooking for small business loans for general automotive repair? Talk to a banker who works with the SBA. This $455,000 general automotive repair loan was issued by a Connecticut bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wolcott, Connecticut was able to borrow $455,000 from Valley Bank. The SBA made the loan possible by guaranteeing $341,250 of this Connecticut small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender VALLEY BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 7/14/2003 Loan Approval Gross Amount $455,000 Loan Approval from the SBA Of the total $455,000 loan amount, the SBA guaranteed $341,250. 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 5 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Who Lends Money to Small Businesses in Bristol, Connecticut Getting an SBA Loan in Connecticut
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