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December 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Springfield, Business Loans > Bank - Western Massachusetts Springfield Business Loans > Full-Service Restaurants Loan | ||||
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How to Get an SBA Loan from Bank - Western Massachusetts
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Chesterfield, Massachusetts Business Gets SBA-Guaranteed Funding from Bank - Western MassachusettsAn SBA loan from Bank - Western Massachusetts typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chesterfield, Massachusetts business owner got a $10,000 loan. Getting a small business loan in Chesterfield, Massachusetts was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank - Western Massachusetts, operating out of Springfield, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BANK - WESTERN MASSACHUSETTS 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 722110 - Full-Service Restaurants Loan Approval Date 5/19/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 generate 3 new jobs and retain 4 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This SBA loan was for $10,000. How would you spend $10,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Springfield, Massachusetts Banks for Small Business
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