Massachusetts SBA Loan Issued to Personal Services Company

Want a Massachusetts small business loan? This Massachusetts entrepreneur got a small business loan, provided by a Massachusetts bank that works with the SBA to help small business owners.

Getting a small business loan in Leeds, Massachusetts was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Greenfield Savings Bank. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
LEEDS, MA 01053

SBA Loan Lender

GREENFIELD SAVINGS BANK
400 MAIN ST
GREENFIELD, MA 01302

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

7/20/2006

Loan Approval Gross Amount

$460,100

Loan Approval from the SBA

Of the total $460,100 loan amount, the SBA guaranteed $345,075.

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 5 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

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:

Obtaining Funding - Getting Venture Capital

Where to Get an SBA Loan in Greenfield, Massachusetts

SBA Lenders in Massachusetts