SBA Loan from Bristol County Savings Bank Helps Full-Service Restaurants Company
Bristol County Savings Bank 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 Franklin, Massachusetts, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Bristol County Savings Bank, based in Taunton, Massachusetts.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
FRANKLIN, MA 02038
SBA Loan Lender
BRISTOL COUNTY SAVINGS BANK
35 BROADWAY
TAUNTON, MA 02780
This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
11/28/2005
Loan Approval Gross Amount
$350,000
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $262,500.
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 40 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $350,000 loan. Remember, if it to be, it is up to me!
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:
Attracting Investors
SBA 7A Banks for Taunton, Massachusetts Loans
Massachusetts SBA 7A Lenders