Century Bank And Trust Company SBA Loan to Limited-Service Restaurants Company

An SBA loan from Century Bank And Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Boston, Massachusetts business owner got a $195,000 loan.

This business knew how to go about getting a business bank loan. Based in Boston, Massachusetts, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Century Bank And Trust Company, based in Somerville, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BOSTON, MA 02114

SBA Loan Lender

CENTURY BANK AND TRUST COMPANY
102 FELLSWAY WEST
SOMERVILLE, MA 02145

This lender processed this debt financing 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

722211 - Limited-Service Restaurants

Loan Approval Date

2/15/2006

Loan Approval Gross Amount

$195,000

Loan Approval from the SBA

Of the total $195,000 loan amount, the SBA guaranteed $97,500.

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 28 employees. This SBA loan request indicated that the loan would help generate 28 new jobs and retain 58 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Boston or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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