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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Florence, Business Loans > Florence Savings Bank Florence Business Loans > General Automotive Repair Loan | ||||
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Business Loans for Belchertown (census Name For B Business Owners
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Small Business Loans for General Automotive RepairWith these small business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $50,500 was given to a Massachusetts entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Belchertown (census Name For B, Massachusetts was able to borrow $50,500 from Florence Savings Bank. The SBA made the loan possible by guaranteeing $25,250 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender FLORENCE SAVINGS BANK 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 811111 - General Automotive Repair Loan Approval Date 9/6/2005 Loan Approval Gross Amount $50,500 Loan Approval from the SBA Of the total $50,500 loan amount, the SBA guaranteed $25,250. 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours 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. Related Links: Obtaining Funding - Friends and Family SBA 7A Banks for Florence, Massachusetts Loans
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