Firm Gets a Massachusetts Bank Loan

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

Getting a small business loan in Lynn, Massachusetts was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Metro Cu. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LYNN, MA 01910

SBA Loan Lender

METRO CU
200 REVERE BEACH PKWY
CHELSEA, MA 02150

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/3/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 120 employees. The SBA loan application for the borrower indicated that the loan would help retain 120 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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