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December 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Rockland, Business Loans > Rockland Trust Company Rockland Business Loans > Full-Service Restaurants Loan | ||||
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Examples of Halifax SBA Loans
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Full-Service Restaurants Commercial LoansWith these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $100,000 was given to a Massachusetts entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Halifax, Massachusetts was able to borrow $100,000 from Rockland Trust Company. The SBA made the loan possible by guaranteeing $50,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender ROCKLAND TRUST COMPANY 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 722110 - Full-Service Restaurants Loan Approval Date 1/13/2006 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Dealing With Venture Capitalists Find an SBA Lender in Rockland, Massachusetts
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