Somerville, Massachusetts Bank Lends Money to Search, Detection, Navigation, Guidance, Aeronautical, And Nautical System Company in Dennis, Massachusetts

Thinking about meeting with a Somerville, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by a Somerville bank, that was approved by the SBA.

Applying for an SBA loan with Century Bank And Trust Company worked out well for our friends at one local company in Dennis, Massachusetts. The business was able to get an SBA loan for $125,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL, AND NAUTICAL SYSTEM
DENNIS, MA 02638

SBA Loan Lender

CENTURY BANK AND TRUST COMPANY
102 FELLSWAY WEST
SOMERVILLE, MA 02145

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

334511 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System

Loan Approval Date

11/30/2005

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $62,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great source of funding.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding - Friends and Family

SBA Approved Banks in Somerville, Massachusetts

SBA Massachusetts Lenders