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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > South Weymouth, Business Loans > South Shore Savings Bank South Weymouth Business Loans > Tile And Terrazzo Contractors Loan | ||||
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How to Get SBA Loans in Easton (easton Center), Massachusetts
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Tile and Terrazzo Contractors Business LoansLooking for business loans for tile and terrazzo contractors? Try the SBA. This $18,300 tile and terrazzo contractors loan was issued by a Massachusetts bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Easton (easton Center), Massachusetts was able to borrow $18,300 from South Shore Savings Bank. The SBA made the loan possible by guaranteeing $9,150 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: TILE AND TERRAZZO CONTRACTORS SBA Loan Lender SOUTH SHORE SAVINGS BANK 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 238340 - Tile and Terrazzo Contractors Loan Approval Date 11/28/2005 Loan Approval Gross Amount $18,300 Loan Approval from the SBA Of the total $18,300 loan amount, the SBA guaranteed $9,150. More Information on This SBA Loan The borrower borrowed this money for a new 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. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in South Weymouth, Massachusetts
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