Lessors of Nonresidential Buildings Loans

Looking for loans for lessors of nonresidential buildings? Talk to a banker who works with the SBA. This $855,000 lessors of nonresidential buildings loan was issued by a Massachusetts bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Florence Savings Bank, out of Florence, Massachusetts. The loan was granted and they received $855,000 to help grow their Northampton, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
NORTHAMPTON, MA 01060

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

This lender processed this 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

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

9/9/2004

Loan Approval Gross Amount

$855,000

Loan Approval from the SBA

Of the total $855,000 loan amount, the SBA guaranteed $427,500.

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 2 employees. The loan application indicated that the funding would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Florence Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Florence Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Debt Financing

Find an SBA Lender in Florence, Massachusetts

Massachusetts SBA 7A Lenders