Commercial Loans for Retail Bakeries

Looking for commercial loans for retail bakeries? Talk to a banker who works with the SBA. This $55,210 retail bakeries loan was issued by a Massachusetts bank.

This business knew how to go about getting a business bank loan. Based in Holden, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bay State Savings Bank, based in Worcester, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
HOLDEN, MA 01520

SBA Loan Lender

BAY STATE SAVINGS BANK
28-32 FRANKLIN ST
WORCESTER, MA 01608

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

11/24/2003

Loan Approval Gross Amount

$55,210

Loan Approval from the SBA

Of the total $55,210 loan amount, the SBA guaranteed $46,928.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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 Credit Cards

Small Bank Loans in Worcester, Massachusetts

SBA Lenders in Massachusetts