North Adams, Massachusetts Bank Lends Money to Wood Containers Company in North Adams, Massachusetts

Find North Adams, Massachusetts banks that specialize in small business loans and know how to work with entrepreneurs. Berkshire Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in North Adams, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Berkshire Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WOOD CONTAINERS
NORTH ADAMS, MA 01247

SBA Loan Lender

BERKSHIRE BANK
37 MAIN ST
NORTH ADAMS, MA 01247

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2449 - Wood Containers

NAICS Code

321920 - Wood Container and Pallet Manufacturing

Loan Approval Date

10/24/2003

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

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 only one employee. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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 Berkshire Bank 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:

Equity Financing

Where to Get an SBA Loan in North Adams, Massachusetts

SBA Participating Banks in Massachusetts