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December 20, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > West Springfield, Business Loans > Newalliance Bank West Springfield Business Loans > Aircraft Parts And Auxiliary Equipment Manufacturing Loan | ||||
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SBA Lender West Springfield
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West Springfield, Massachusetts Bank Gives SBA Loan to Aircraft Parts And Auxiliary Equipment Manufacturing CompanyThinking about meeting with a West Springfield, Massachusetts bank about a small business loan? Here's one Connecticut business loan, issued by a West Springfield bank, that was approved by the SBA. Applying for an SBA loan with Newalliance Bank worked out well for our friends at one local business in Woodstock, Connecticut. They received an SBA loan for $300,000. Nice! SBA Loan Borrower COMPANY TYPE: AIRCRAFT PARTS AND AUXILIARY EQUIPMENT MANUFACTURING SBA Loan Lender NEWALLIANCE BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 336413 - Aircraft Parts and Auxiliary Equipment Manufacturing Loan Approval Date 6/21/2006 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $150,000. 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 indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a company in Woodstock CT, you ought to talk with a local Woodstock SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Woodstock 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: Obtaining Funding - Getting Venture Capital SBA Approved Banks in West Springfield, Massachusetts
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