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November 14, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Wakefield, Business Loans > Massachusetts Business Wakefield Business Loans > Special Dies And Tools, Die Sets, Jigs And Fixture Loan | ||||
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Banks for Entrepreneurs in Massachusetts
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Company Gets a Massachusetts Business LoanSBA 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 Leominster, Massachusetts was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Massachusetts Business. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL DIES AND TOOLS, DIE SETS, JIGS AND FIXTURE SBA Loan Lender MASSACHUSETTS BUSINESS As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3544 - Special Dies and Tools, Die Sets, Jigs and Fixture Loan Approval Date 3/31/2000 Loan Approval Gross Amount $920,000 Loan Approval from the SBA Of the total $920,000 loan amount, the SBA guaranteed $690,000. 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 only one employee. The SBA loan documents indicated that the loan would help retain 19 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Massachusetts Business had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Massachusetts Business made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Accountant's Role in Securing Financing Small Bank Loans in Wakefield, Massachusetts
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