Getting an SBA Loan for Building Material Dealers

With these SBA loans for building material dealers, the SBA guarantees the lender that the loan will be repaid. This building material dealers loan for $1,030,000 was given to a Massachusetts entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brockton, Massachusetts was able to borrow $1,030,000 from The Community Bank. The SBA made the loan possible by guaranteeing $772,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
BROCKTON, MA 02301

SBA Loan Lender

THE COMMUNITY BANK
1265 BELMONT ST
BROCKTON, MA 02301

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

10/5/2007

Loan Approval Gross Amount

$1,030,000

Loan Approval from the SBA

Of the total $1,030,000 loan amount, the SBA guaranteed $772,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 22 employees. This SBA loan request indicated that the loan would help retain 22 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Community Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Incubators

SBA Banks in Brockton, Massachusetts

Massachusetts SBA 7A Banks