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November 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Greenfield, Business Loans > Greenfield Co-Operative Bank Greenfield Business Loans > Home Furnishing Merchant Wholesalers Loan | ||||
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SBA Lenders in Massachusetts
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Business Loans for Home Furnishing Merchant WholesalersLooking for business loans for home furnishing merchant wholesalers? Try the SBA. This $50,000 home furnishing merchant wholesalers loan was issued by a Massachusetts bank. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Greenfield Co-Operative Bank, out of Greenfield, Massachusetts. The loan was granted and they received $50,000 to help grow their Greenfield (town Of), Massachusetts business. SBA Loan Borrower COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS SBA Loan Lender GREENFIELD CO-OPERATIVE BANK The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 423220 - Home Furnishing Merchant Wholesalers Loan Approval Date 8/2/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source 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: Small Business Banks in Greenfield, Massachusetts
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