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December 23, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Canton, Business Loans > The Bank Of Canton Canton Business Loans > Eating Places Loan | ||||
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Massachusetts Bank SBA Loans
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The Bank Of Canton SBA Loan to Eating Places CompanyLooking to get a Massachusetts small business loan? Here's one Massachusetts business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Canton, Massachusetts was able to borrow $100,000 from The Bank Of Canton. The SBA made the loan possible by guaranteeing $80,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE BANK OF CANTON This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 3/17/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. 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 10 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: SBA Participating Banks in Canton, Massachusetts
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