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December 20, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Fall River, Business Loans > Bankfive Fall River Business Loans > Tobacco Stores Loan | ||||
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Fall River SBA Loan from Bankfive
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Bankfive SBA Loan to Tobacco Stores CompanyBankfive has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Fall River, Massachusetts, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Bankfive, based in Fall River, Massachusetts. SBA Loan Borrower COMPANY TYPE: TOBACCO STORES SBA Loan Lender BANKFIVE 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 453991 - Tobacco Stores Loan Approval Date 2/14/2006 Loan Approval Gross Amount $45,000 Loan Approval from the SBA Of the total $45,000 loan amount, the SBA guaranteed $22,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bankfive that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 SBA Participating Banks in Fall River, Massachusetts
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