Firm Gets a Connecticut Business Loan

Want a Connecticut small business loan? This Connecticut entrepreneur got a small business loan, provided by a Connecticut bank that works with the SBA to help small business owners.

Getting a small business loan in Wolcott, Connecticut was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Savings Bank Of Danbury. Here are the details on this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: PLEATING, DECORATIVE AND NOVELTY STITCHING
WOLCOTT, CT 06716

SBA Loan Lender

SAVINGS BANK OF DANBURY
220 MAIN ST
DANBURY, CT 06810

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2395 - Pleating, Decorative and Novelty Stitching

NAICS Code

314999 - Textile Product Mills

Loan Approval Date

12/5/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 28 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Savings Bank Of Danbury that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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