Worcester, Massachusetts Bank Gives SBA Loan to Medicinal Chemicals And Botanical Products Company

Find Worcester, Massachusetts banks that specialize in business loans and know how to work with entrepreneurs. Webster Five Cents Savings Bk is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: MEDICINAL CHEMICALS AND BOTANICAL PRODUCTS
OAKHAM, MA 01068

SBA Loan Lender

WEBSTER FIVE CENTS SAVINGS BK
200 COMMERCIAL ST
WORCESTER, MA 01608

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2833 - Medicinal Chemicals and Botanical Products

NAICS Code

325411 - Medicinal and Botanical Manufacturing

Loan Approval Date

9/24/2002

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

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 14 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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