Westfield, Massachusetts Bank Gives SBA Loan to Custom Computer Programming Services Company

Get to know Westfield, Massachusetts banks that specialize in SBA loans and know how to work with entrepreneurs. Westfield Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: CUSTOM COMPUTER PROGRAMMING SERVICES
NORTHAMPTON, MA 01060

SBA Loan Lender

WESTFIELD BANK
141 ELM ST
WESTFIELD, MA 01085

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

541511 - Custom Computer Programming Services

Loan Approval Date

11/28/2006

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 15 employees. The loan application indicated that the loan would help retain 13 existing jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

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 Westfield Bank 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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