Agawam, Massachusetts Entrepreneur Gets a Small Business Loan

Business loans in Massachusetts are hard to find these days. We take a look at one Massachusetts business loan, provided by a Massachusetts bank, that was approved by the SBA.

This small business, based in Agawam, Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Berkshire Bank. We've got the inside scoop on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
AGAWAM, MA 01001

SBA Loan Lender

BERKSHIRE BANK
24 NORTH ST
PITTSFIELD, MA 01201

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

4/23/2002

Loan Approval Gross Amount

$521,475

Loan Approval from the SBA

Of the total $521,475 loan amount, the SBA guaranteed $391,106.

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 9 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Find Start-Up Capital

SBA Participating Banks in Pittsfield, Massachusetts

Getting an SBA Loan in Massachusetts