Newalliance Bank SBA Loan to Child Day Care Services Company

Newalliance 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 business knew how to go about getting a business bank loan. Based in Holyoke, Massachusetts, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Newalliance Bank, based in West Springfield, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
HOLYOKE, MA 01040

SBA Loan Lender

NEWALLIANCE BANK
225 PARK AVE
WEST SPRINGFIELD, MA 01089

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

12/29/2005

Loan Approval Gross Amount

$89,100

Loan Approval from the SBA

Of the total $89,100 loan amount, the SBA guaranteed $75,735.

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 8 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Holyoke MA, you ought to talk with a local Holyoke SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Holyoke businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Newalliance Bank and they will explain how you can get an SBA loan for your company.

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 - How to Decide How Much to Raise

Where to Get an SBA Loan in West Springfield, Massachusetts

Massachusetts SBA Bank Lenders