Edgartown, Massachusetts Bank Lends Money to Eating Places Company in Oak Bluffs, Massachusetts

Want to talk with an Edgartown, Massachusetts bank about an SBA loan? Here's one Massachusetts business loan, issued by an Edgartown bank, that was approved by the SBA.

Applying for an SBA loan with The Edgartown National Bank worked out well for our friends at one local firm in Oak Bluffs, Massachusetts. The business was able to get an SBA loan for $35,000. Nice!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
OAK BLUFFS, MA 02557

SBA Loan Lender

THE EDGARTOWN NATIONAL BANK
2 S WATER ST
EDGARTOWN, MA 02539

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/25/2003

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 16 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from The Edgartown National 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:

Obtaining Funding - Friends and Family

Small Business Banks in Edgartown, Massachusetts

Getting a Business Loan in Massachusetts