Company Gets a Massachusetts Bank Loan

SBA loans in Massachusetts are are few and far betweeen these days. We take a look at one Massachusetts SBA loan, provided by a Massachusetts bank, that was approved by the SBA.

Getting a small business loan in Hubbardston, Massachusetts was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Southbridge Savings Bank. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
HUBBARDSTON, MA 01452

SBA Loan Lender

SOUTHBRIDGE SAVINGS BANK
253 MAIN ST
SOUTHBRIDGE, MA 01550

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

722110 - Full-Service Restaurants

Loan Approval Date

4/22/2005

Loan Approval Gross Amount

$310,750

Loan Approval from the SBA

Of the total $310,750 loan amount, the SBA guaranteed $233,063.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $310,750. How would you spend $310,750 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

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SBA Approved Banks in Southbridge, Massachusetts

SBA Participating Banks in Massachusetts