Coffee and Tea Manufacturing Small Business Loans

With these small business loans for coffee and tea manufacturing, the SBA guarantees the lender that the loan will be repaid. This coffee and tea manufacturing loan for $40,000 was given to a Massachusetts entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Billerica (billerica Center), Massachusetts was able to borrow $40,000 from Everett Co-Operative Bank. The SBA made the loan possible by guaranteeing $20,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: COFFEE AND TEA MANUFACTURING
BILLERICA (BILLERICA CENTER), MA 01862

SBA Loan Lender

EVERETT CO-OPERATIVE BANK
419 BROADWAY
EVERETT, MA 02149

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

311920 - Coffee and Tea Manufacturing

Loan Approval Date

4/27/2006

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Everett Co-Operative Bank and they will explain how you can get an SBA loan for your company.

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:

Understanding Dilution

SBA 7A Banks for Everett, Massachusetts Loans

Getting an SBA Loan in Massachusetts