Company Gets a Massachusetts SBA Loan

Would a Massachusetts SBA loan help your business get to the next level? If so, you may want to talk with this Massachusetts bank, which offers SBA loans to Massachusetts entrepreneurs.

You can learn something about getting a small business loan in Holyoke, Massachusetts by studying this loan to a local business, made back in 2005. Banks like Chicopee Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
HOLYOKE, MA 01040

SBA Loan Lender

CHICOPEE SAVINGS BANK
229 EXCHANGE ST
CHICOPEE, MA 01013

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/2/2005

Loan Approval Gross Amount

$9,900

Loan Approval from the SBA

Of the total $9,900 loan amount, the SBA guaranteed $8,415.

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. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business 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.

We can help you find the best banks for small businesses in Holyoke or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

The Art of Bootstrapping

Find an SBA Lender in Chicopee, Massachusetts

Massachusetts SBA Banks