Commerce Bank & Trust Company Gives Business Loan to Solid Waste Collection Company

MassachusettsBusiness loans are available to Massachusetts business owners through the SBA. In this case, a Massachusetts bank provides the loan.

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

SBA Loan Borrower

COMPANY TYPE: SOLID WASTE COLLECTION
PAXTON, MA 01612

SBA Loan Lender

COMMERCE BANK & TRUST COMPANY
386 MAIN ST
WORCESTER, MA 01608

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

562111 - Solid Waste Collection

Loan Approval Date

3/21/2003

Loan Approval Gross Amount

$48,000

Loan Approval from the SBA

Of the total $48,000 loan amount, the SBA guaranteed $24,000.

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 only one employee. The loan application indicated that the loan would help create 1 new job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Commerce Bank & Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Family and Friend Investors - Your First Financiers

SBA Participating Banks in Worcester, Massachusetts

Massachusetts SBA Banks