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February 23, 2025 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Edgartown, Business Loans > Martha's Vineyard Savings Bank Edgartown Business Loans > Eating Places Loan | ||||
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Getting a Business Loan from Martha's Vineyard Savings Bank
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Edgartown, Massachusetts Business Gets SBA-Guaranteed Funding from Martha's Vineyard Savings BankAn SBA loan from Martha's Vineyard Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Edgartown, Massachusetts business owner got a $140,000 loan. Getting a small business loan in Edgartown, Massachusetts was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Martha's Vineyard Savings Bank, operating out of Edgartown, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender MARTHA'S VINEYARD SAVINGS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 1/29/2003 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $119,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees. 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Family and Friend Investors - Your First Financiers Who Lends Money to Small Businesses in Edgartown, Massachusetts Massachusetts SBA Bank Lenders
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