Massachusetts Business Loan Issued to Machine Shops Company

Would a Massachusetts SBA loan help your business get to the next level? If so, you may want to talk with this Massachusetts bank, which offers SBA loans to Massachusetts entrepreneurs.

Getting a small business loan in East Longmeadow (town Of), Massachusetts was a top priority for this particular business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Westfield Bank. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
EAST LONGMEADOW (TOWN OF), MA 01028

SBA Loan Lender

WESTFIELD BANK
141 ELM ST
WESTFIELD, MA 01085

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

332710 - Machine Shops

Loan Approval Date

2/20/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 30 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 30 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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.

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