Business Loan from Legacy Banks Given to Drinking Places Company

An SBA loan from Legacy Banks typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pittsfield, Massachusetts business owner got a $60,000 loan.

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 Legacy Banks, operating out of Pittsfield, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
PITTSFIELD, MA 01201

SBA Loan Lender

LEGACY BANKS
99 NORTH ST
PITTSFIELD, MA 01201

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

722410 - Drinking Places

Loan Approval Date

6/21/2006

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Legacy Banks 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.

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