Hsbc Bank Usa Gives Business Loan to Grocery Stores Company

Searching for a Massachusetts SBA loan? This Massachusetts entrepreneur got an SBA loan, provided by a New York bank that works with the SBA to help small business owners.

Getting a small business loan in Norfolk, Massachusetts was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Hsbc Bank Usa. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
NORFOLK, MA 02053

SBA Loan Lender

HSBC BANK USA
ONE HSBC CTR
BUFFALO, NY 14203

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$88,000

Loan Approval from the SBA

Of the total $88,000 loan amount, the SBA guaranteed $74,800.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Norfolk MA, you ought to talk with a local Norfolk SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norfolk businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $88,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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