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November 14, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Waltham, Business Loans > Bank Of America Waltham Business Loans > Nondurable Goods Loan | ||||
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MA Small Business Loans from Bank Of America
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Bank Of America SBA Loan to Nondurable Goods CompanyAn SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Gloucester, Massachusetts business owner got a $150,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gloucester, Massachusetts was able to borrow $150,000 from Bank Of America. The SBA made the loan possible by guaranteeing $135,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS SBA Loan Lender BANK OF AMERICA SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5199 - Nondurable Goods NAICS Code 541890 - Services Related to Advertising Loan Approval Date 5/24/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $135,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Waltham, Massachusetts
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