Home Loan Invest Bank F.S.B. Gives Small Business Loan to Amusement Arcades Company

Business loans in Massachusetts are hard to find these days. We take a look at one Massachusetts business loan, provided by a Rhode Island bank, that was approved by the SBA.

You can learn something about getting a small business loan in Needham, Massachusetts by studying this loan to a local business, made back in 2002. Banks like Home Loan Invest Bank F.S.B. may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT ARCADES
NEEDHAM, MA 02062

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713120 - Amusement Arcades

Loan Approval Date

10/4/2002

Loan Approval Gross Amount

$1,900,000

Loan Approval from the SBA

Of the total $1,900,000 loan amount, the SBA guaranteed $999,970.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for 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.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to borrow money from friends and family, 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.

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