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December 22, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Norwood, Business Loans > Rbs Citizens Norwood Business Loans > Florists Loan | ||||
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Massachusetts SBA 7A Lenders
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Entrepreneur Works With Norwood, Massachusetts Bank to Get an SBA LoanGet SBA loans from a Norwood, Massachusetts bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Rbs Citizens is a Norwood, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Hampshire company. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender RBS CITIZENS This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 453110 - Florists Loan Approval Date 3/12/2002 Loan Approval Gross Amount $2,500 Loan Approval from the SBA Of the total $2,500 loan amount, the SBA guaranteed $1,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. 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 Although it's called an SBA loan, you 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. 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: A Company That Helps Entrepreneurs SBA 7A Lenders in Norwood, Massachusetts
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