The Bridgewater Cu SBA Loan to Cafeterias, Grill Buffets, And Buffets Company

An SBA loan from The Bridgewater Cu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Middleboro, Massachusetts business owner got a $562,500 loan.

This small firm knew how to go about getting a business bank loan. Based in Middleboro, Massachusetts, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was The Bridgewater Cu, based in Bridgewater, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: CAFETERIAS, GRILL BUFFETS, AND BUFFETS
MIDDLEBORO, MA 02346

SBA Loan Lender

THE BRIDGEWATER CU
75 MAIN ST
BRIDGEWATER, MA 02324

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722212 - Cafeterias, Grill Buffets, and Buffets

Loan Approval Date

9/26/2006

Loan Approval Gross Amount

$562,500

Loan Approval from the SBA

Of the total $562,500 loan amount, the SBA guaranteed $421,875.

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 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Bridgewater Cu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Getting a Small Business Loan

Best Banks in Bridgewater, Massachusetts

SBA Massachusetts Banks