Massachusetts Small Business Loan Issued to Gasoline Stations With Convenience Stores Company

Want a Massachusetts SBA loan? This Massachusetts entrepreneur got an SBA loan, provided by a Rhode Island bank that works with the SBA to help small business owners.

Getting a small business loan in Fairhaven, Massachusetts was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Independence Bank. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
FAIRHAVEN, MA 02719

SBA Loan Lender

INDEPENDENCE BANK
1370 S COUNTY TRL
EAST GREENWICH, RI 02818

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

5/27/2004

Loan Approval Gross Amount

$656,000

Loan Approval from the SBA

Of the total $656,000 loan amount, the SBA guaranteed $492,000.

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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned 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?

If you are wondering how to raise money for a company 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.

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.

Related Links:

Obtaining Funding From a Venture Capitalist

Best Banks for Small Business in East Greenwich, Rhode Island

Find an SBA Lender in Rhode Island