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November 14, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Cathay Bank Boston Business Loans > Eating Places Loan | ||||
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SBA Lender Boston
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Boston, Massachusetts Bank Gives SBA Loan to Eating Places CompanyGet SBA loans from a Boston, Massachusetts bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Cathay Bank is a Boston, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Massachusetts company. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender CATHAY BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. 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 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 6/19/2001 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cathay Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 an SBA Lender in Boston, Massachusetts
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