Raising Money for Beer, Wine, and Liquor Stores
Looking for bank loans for beer, wine, and liquor stores? The SBA may be the answer. This $150,000 beer, wine, and liquor stores loan was issued by a Massachusetts bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chicopee, Massachusetts was able to borrow $150,000 from Hampden Bank. The SBA made the loan possible by guaranteeing $127,500 of this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: LIQUOR STORES
CHICOPEE, MA 01020
SBA Loan Lender
HAMPDEN BANK
19 HARRISON AVE
SPRINGFIELD, MA 01103
This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5921 - Liquor Stores
NAICS Code
445310 - Beer, Wine, and Liquor Stores
Loan Approval Date
12/13/2001
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 6 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hampden Bank 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.
Related Links:
Find Start-Up Capital
SBA 7A Banks for Springfield, Massachusetts Loans
SBA Lenders in Massachusetts