Junior Colleges Commercial Loans

Looking for commercial loans for junior colleges? An SBA loan may be just what you've been looking for. This $640,000 junior colleges loan was issued by a Massachusetts bank.

Getting a small business loan in North Hadley, Massachusetts was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Florence Savings Bank, operating out of Florence, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: JUNIOR COLLEGES
NORTH HADLEY, MA 01060

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611210 - Junior Colleges

Loan Approval Date

12/20/2006

Loan Approval Gross Amount

$640,000

Loan Approval from the SBA

Of the total $640,000 loan amount, the SBA guaranteed $480,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Florence Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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Small Business Banks in Florence, Massachusetts

SBA Participating Banks in Massachusetts