Growing Company Gets a Massachusetts Small Business Loan

Bank loans in Massachusetts are hard to find these days. We take a look at one Massachusetts bank loan, provided by a Massachusetts bank, that was approved by the SBA.

You can learn something about getting a small business loan in Canton (town Of), Massachusetts by studying this loan to a local company, made back in 2007. Banks like Century Bank And Trust Company may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD MANUFACTURING
CANTON (TOWN OF), MA 02021

SBA Loan Lender

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

The lender provided this bank 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

311999 - Food Manufacturing

Loan Approval Date

2/27/2007

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. 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 loan application indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Century Bank And Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Century Bank And Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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Getting an SBA Loan in Massachusetts