SBA Loan from Bank - Western Massachusetts Helps Analytical Laboratory Instrument Manufacturing Company

An SBA loan from Bank - Western Massachusetts typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Northampton, Massachusetts business owner got a $250,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Northampton, Massachusetts was able to borrow $250,000 from Bank - Western Massachusetts. The SBA made the loan possible by guaranteeing $125,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: ANALYTICAL LABORATORY INSTRUMENT MANUFACTURING
NORTHAMPTON, MA 01060

SBA Loan Lender

BANK - WESTERN MASSACHUSETTS
1391 MAIN ST, 3RD FL
SPRINGFIELD, MA 01103

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

334516 - Analytical Laboratory Instrument Manufacturing

Loan Approval Date

5/23/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank - Western Massachusetts and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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