Bank Loans for Taxi Service
Looking for bank loans for taxi service? An SBA loan may be just what you've been looking for. This $5,000 taxi service loan was issued by a Massachusetts bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dorchester, Massachusetts was able to borrow $5,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $2,500 of this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: TAXI SERVICE
DORCHESTER, MA 02121
SBA Loan Lender
RBS CITIZENS
725 CANTON ST
NORWOOD, MA 02062
The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
485310 - Taxi Service
Loan Approval Date
3/20/2003
Loan Approval Gross Amount
$5,000
Loan Approval from the SBA
Of the total $5,000 loan amount, the SBA guaranteed $2,500.
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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rbs Citizens 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:
Realistic Debt Financing Options
SBA Participating Banks in Norwood, Massachusetts
SBA Participating Banks in Massachusetts