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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Rbs Citizens Boston Business Loans > Iron And Steel Mills Loan | ||||
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Massachusetts SBA 7A Lenders
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Boston, Massachusetts Bank Gives SBA Loan to Iron And Steel Mills CompanyThinking about meeting with a Boston, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by a Boston bank, that was approved by the SBA. Applying for an SBA loan with Rbs Citizens worked out well for our friends at one local firm in Acushnet, Massachusetts. The business was able to get an SBA loan for $20,000. Sweet! SBA Loan Borrower COMPANY TYPE: IRON AND STEEL MILLS SBA Loan Lender RBS CITIZENS 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 331111 - Iron and Steel Mills Loan Approval Date 3/26/2002 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Banks in Boston, Massachusetts
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