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November 15, 2024 |
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| Home > Small Business Lenders by State > Rhode Island Business Loan Sources > Weymouth, Business Loans > South Shore Co-Operative Bank Weymouth Business Loans > Lumber And Other Building Materials Dealer Loan | ||||
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Banks Doing SBA Loans in Massachusetts
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Entrepreneur Works With Weymouth, Massachusetts Bank to Get an SBA LoanThinking about meeting with a Weymouth, Massachusetts bank about an SBA loan? Here's one Rhode Island business loan, issued by a Weymouth bank, that was approved by the SBA. Applying for an SBA loan with South Shore Co-Operative Bank worked out well for our friends at one local firm in Pawtucket, Rhode Island. They got an SBA loan for $800,000. Great job! SBA Loan Borrower COMPANY TYPE: LUMBER AND OTHER BUILDING MATERIALS DEALER SBA Loan Lender SOUTH SHORE CO-OPERATIVE BANK This bank loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5211 - Lumber and Other Building Materials Dealer NAICS Code 444190 - Building Material Dealers Loan Approval Date 8/24/2004 Loan Approval Gross Amount $800,000 Loan Approval from the SBA Of the total $800,000 loan amount, the SBA guaranteed $600,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like South Shore Co-Operative Bank and they will explain how you can get an SBA loan for your company. 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: SBA Banks in Weymouth, Massachusetts
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