Entrepreneur Works With Woodstock, Vermont Bank to Get an SBA Loan

Thinking about meeting with a Woodstock, Vermont bank about a business loan? Here's one Vermont business loan, issued by a Woodstock bank, that was approved by the SBA.

Applying for an SBA loan with Lake Sunapee Bank, Fsb worked out well for our friends at one local firm in Woodstock, Vermont. They got an SBA loan for $360,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: TRAVELER ACCOMMODATION
WOODSTOCK, VT 05091

SBA Loan Lender

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

This debt financing 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

721199 - Traveler Accommodation

Loan Approval Date

6/25/2001

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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