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December 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Ups Capital Business Credit Boston Business Loans > Fabricated Metal Product Manufacturing Loan | ||||
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SBA 7A Banks That Lend to Hopedale Small Business Owners
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Massachusetts SBA Loan Issued to Fabricated Metal Product Manufacturing CompanyMassachusettsSBA loans are available to Massachusetts entrepreneurs through the SBA. In this case, a Massachusetts bank provides the loan. You can learn something about getting a small business loan in Hopedale, Massachusetts by studying this loan to a local business, made back in 2004. Banks like Ups Capital Business Credit may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FABRICATED METAL PRODUCT MANUFACTURING SBA Loan Lender UPS CAPITAL BUSINESS CREDIT This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332999 - Fabricated Metal Product Manufacturing Loan Approval Date 12/30/2004 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 56 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Boston, Massachusetts
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