Firm Gets a Massachusetts SBA Loan

MassachusettsSmall business loans are available to Massachusetts small business owners through the SBA. In this case, a Massachusetts bank provides the loan.

This company, based in Charlton (charlton Center), Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Flagship Bank & Trust. We've got the inside scoop on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES MERCHANT WHOLESALERS
CHARLTON (CHARLTON CENTER), MA 01507

SBA Loan Lender

FLAGSHIP BANK & TRUST
120 FRONT ST
WORCESTER, MA 01608

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

424910 - Farm Supplies Merchant Wholesalers

Loan Approval Date

12/19/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the borrowed money would help generate 4 new 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Flagship Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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