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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Rockland, Business Loans > Rockland Trust Company Rockland Business Loans > Janitorial Services Loan | ||||
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Rockland Bank Loan
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Rockland, Massachusetts Bank Gives SBA Loan to Janitorial Services CompanyGet to know Rockland, Massachusetts banks that specialize in business loans and know how to work with entrepreneurs. Rockland Trust Company is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Pembroke, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Rockland Trust Company. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: JANITORIAL SERVICES SBA Loan Lender ROCKLAND TRUST COMPANY This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 561720 - Janitorial Services Loan Approval Date 12/7/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 SBA loan documents indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Accountant's Role in Securing Financing Good Banks for Small Business in Rockland, Massachusetts
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