Business Loan from Legacy Banks Given to Finish Carpentry Contractors Company

An SBA loan from Legacy Banks typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Monterey, Massachusetts business owner got a $20,000 loan.

Getting a small business loan in Monterey, 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 Legacy Banks, operating out of Pittsfield, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FINISH CARPENTRY CONTRACTORS
MONTEREY, MA 01245

SBA Loan Lender

LEGACY BANKS
99 NORTH ST
PITTSFIELD, MA 01201

The lender provided this 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

238350 - Finish Carpentry Contractors

Loan Approval Date

1/25/2008

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

SBIR Funding

SBA Approved Banks in Pittsfield, Massachusetts

Browse All Business Loan Sources for Massachusetts