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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Cambridge, Business Loans > Cambridge Trust Company Cambridge Business Loans > Full-Service Restaurants Loan | ||||
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I Need an SBA Loan in Cambridge, Massachusetts
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Full-Service Restaurants SBA LoansLooking for SBA loans for full-service restaurants? The SBA may be the answer. This $50,000 full-service restaurants loan was issued by a Massachusetts bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cambridge, Massachusetts was able to borrow $50,000 from Cambridge Trust Company. The SBA made the loan possible by guaranteeing $25,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender CAMBRIDGE TRUST COMPANY The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 722110 - Full-Service Restaurants Loan Approval Date 8/4/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 26 employees. The SBA loan application for the borrower indicated that the loan would help retain 26 existing jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Small Business Banks in Cambridge, Massachusetts
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