Century Bank And Trust Company SBA Loan to Eating Places Company

Century Bank And Trust Company and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Chestnut Hill, Massachusetts was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Century Bank And Trust Company, operating out of Medford, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CHESTNUT HILL, MA 02467

SBA Loan Lender

CENTURY BANK AND TRUST COMPANY
400 MYSTIC AVE
MEDFORD, MA 02155

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/16/2002

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 24 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We can help you find the best banks for small businesses in Chestnut Hill or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

SBIR Funding

Good Banks for Small Business in Medford, Massachusetts

Find an SBA Lender in Massachusetts