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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Worcester, Business Loans > Bay State Savings Bank Worcester Business Loans > Employment Agencies Loan | ||||
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Massachusetts Bank SBA Loans
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Bay State Savings Bank SBA Loan to Employment Agencies CompanyWant a Massachusetts small business loan? Here's one Massachusetts business loan that was approved by the SBA. This small business needed an SBA business loan in Clinton, Massachusetts back in 2001 and, after submitting their loan application, they were successful in getting an SBA loan from Bay State Savings Bank, operating out of Worcester, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: EMPLOYMENT AGENCIES SBA Loan Lender BAY STATE SAVINGS BANK This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7361 - Employment Agencies NAICS Code Loan Approval Date 1/5/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 50 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money While you may be able to borrow money from friends and family, 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: Determining Proper Capital Structure for a Business Banks in Worcester, Massachusetts
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