Massachusetts Small Business Loan Issued to Grocery Stores Company

Looking to get a Massachusetts small business loan? This Massachusetts entrepreneur got a small business loan, provided by a Massachusetts bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Osterville, Massachusetts by studying this loan to a local company, made back in 2003. Banks like Eastern Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
OSTERVILLE, MA 02655

SBA Loan Lender

EASTERN BANK
195 MARKET ST, ONE EASTERN PL
LYNN, MA 01901

This commercial 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

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

4/25/2003

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

Related Links:

A Company That Helps Entrepreneurs

Find an SBA Lender in Lynn, Massachusetts

Getting an SBA Loan in Massachusetts