Florence Savings Bank SBA Loan to General Automotive Repair Company

An SBA loan from Florence Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Belchertown (census Name For B, Massachusetts business owner got a $10,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Belchertown (census Name For B, Massachusetts, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Florence Savings Bank, based in Florence, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
BELCHERTOWN (CENSUS NAME FOR B, MA 01007

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

This lender processed this business 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

811111 - General Automotive Repair

Loan Approval Date

11/9/2006

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in 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.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $10,000. How would you spend $10,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

SBIR Funding

SBA Participating Banks in Florence, Massachusetts

SBA Massachusetts Lenders