Commercial Loans for General Merchandise Stores

Looking for commercial loans for general merchandise stores? Try the SBA. This $79,000 general merchandise stores loan was issued by a Massachusetts bank.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Westfield Bank, out of Westfield, Massachusetts. The loan was granted and they received $79,000 to help grow their East Otis, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
EAST OTIS, MA 01029

SBA Loan Lender

WESTFIELD BANK
141 ELM ST
WESTFIELD, MA 01085

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

452990 - General Merchandise Stores

Loan Approval Date

5/4/2007

Loan Approval Gross Amount

$79,000

Loan Approval from the SBA

Of the total $79,000 loan amount, the SBA guaranteed $39,500.

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 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $79,000. How would you spend $79,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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