Business Loan from South Shore Co-Operative Bank Given to Fabricated Structural Metal Manufacturing Company

South Shore Co-Operative Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with South Shore Co-Operative Bank, out of Weymouth, Massachusetts. The loan was granted and they received $500,000 to help grow their Hanson (rr Name South Hanson), Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: FABRICATED STRUCTURAL METAL MANUFACTURING
HANSON (RR NAME SOUTH HANSON), MA 02170

SBA Loan Lender

SOUTH SHORE CO-OPERATIVE BANK
195 WASHINGTON ST
WEYMOUTH, MA 02188

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

332312 - Fabricated Structural Metal Manufacturing

Loan Approval Date

11/24/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $250,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the borrowed money would help create 7 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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