SBA Loan from The Community Bank Helps Janitorial Services Company

The Community Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Mashpee, Massachusetts was an essential business goal for this small business back in 2008 and, based on their loan application, they were successful in getting an SBA loan from The Community Bank, operating out of Brockton, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
MASHPEE, MA 02649

SBA Loan Lender

THE COMMUNITY BANK
1265 BELMONT ST
BROCKTON, MA 02301

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

1/11/2008

Loan Approval Gross Amount

$589,500

Loan Approval from the SBA

Of the total $589,500 loan amount, the SBA guaranteed $442,125.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Mashpee MA, you ought to talk with a local Mashpee SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mashpee businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Community Bank 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:

How to Raise Money

Best Banks for Small Business in Brockton, Massachusetts

Getting an SBA Loan in Massachusetts