Rockland Trust Company SBA Loan to Custom Computer Programming Services Company

Rockland Trust Company is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Fairhaven, Massachusetts, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Rockland Trust Company, based in Rockland, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES
FAIRHAVEN, MA 02719

SBA Loan Lender

ROCKLAND TRUST COMPANY
288 UNION ST
ROCKLAND, MA 02370

This 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

541511 - Custom Computer Programming Services

Loan Approval Date

1/19/2006

Loan Approval Gross Amount

$36,444

Loan Approval from the SBA

Of the total $36,444 loan amount, the SBA guaranteed $18,222.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

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

If you are raising money in Fairhaven MA, you ought to talk with a local Fairhaven SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fairhaven businesses.

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:

Business Cash Advances

SBA 7A Banks in Rockland, Massachusetts

Massachusetts SBA 7A Lenders