Getting an SBA Loan for Lessors of Nonresidential Buildings

With these commercial loans for lessors of nonresidential buildings, the SBA guarantees the lender that the loan will be repaid. This lessors of nonresidential buildings loan for $285,000 was given to a Massachusetts entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Sovereign Bank, out of Abington, Massachusetts. The loan was granted and they received $285,000 to help grow their Brockton, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
BROCKTON, MA 02301

SBA Loan Lender

SOVEREIGN BANK
533 WASHINGTON ST
ABINGTON, MA 02351

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

1/15/2002

Loan Approval Gross Amount

$285,000

Loan Approval from the SBA

Of the total $285,000 loan amount, the SBA guaranteed $213,750.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sovereign 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:

Microlending as a Small Business Funding Source

Small Business Banks in Abington, Massachusetts

Massachusetts SBA 7A Lenders