SBA Loan from Greylock Fcu Helps Barber Shops Company

Greylock Fcu and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Pittsfield, Massachusetts was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Greylock Fcu, operating out of Pittsfield, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BARBER SHOPS
PITTSFIELD, MA 01201

SBA Loan Lender

GREYLOCK FCU
150 WEST ST
PITTSFIELD, MA 01201

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812111 - Barber Shops

Loan Approval Date

9/18/2006

Loan Approval Gross Amount

$470,000

Loan Approval from the SBA

Of the total $470,000 loan amount, the SBA guaranteed $352,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Financing Your Business

SBA 7A Lenders in Pittsfield, Massachusetts

Where to Get an SBA Loan Massachusetts