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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Somerville, Business Loans > Century Bank And Trust Company Somerville Business Loans > Specialized Local Freight Trucking Loan | ||||
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SBA Loan from Century Bank And Trust Company
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Business Loan from Century Bank And Trust Company Given to Specialized Local Freight Trucking CompanyCentury Bank And Trust Company is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Medford, Massachusetts was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Century Bank And Trust Company, operating out of Somerville, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING SBA Loan Lender CENTURY BANK AND TRUST COMPANY The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 484220 - Specialized Local Freight Trucking Loan Approval Date 1/25/2006 Loan Approval Gross Amount $32,000 Loan Approval from the SBA Of the total $32,000 loan amount, the SBA guaranteed $16,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Century Bank And Trust Company and they will explain how you can get an SBA loan for your company. 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: SBA 7A Banks in Somerville, Massachusetts
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