Lake Sunapee Bank, Fsb SBA Loan to Physicians, Mental Health Specialists Company

Lake Sunapee Bank, Fsb has a track record as a leading provider of SBA loans. Find out how this Vermont entrepreneur received an SBA loan from them.

Getting a small business loan in Woodstock, Vermont was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Lake Sunapee Bank, Fsb, operating out of Woodstock, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS, MENTAL HEALTH SPECIALISTS
WOODSTOCK, VT 05091

SBA Loan Lender

LAKE SUNAPEE BANK, FSB
1 BOND ST
WOODSTOCK, VT 05091

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621112 - Physicians, Mental Health Specialists

Loan Approval Date

12/23/2005

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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