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December 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Pittsfield, Business Loans > Legacy Banks Pittsfield Business Loans > Eating Places Loan | ||||
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Legacy Banks Small Business Loans
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Pittsfield, Massachusetts Business Gets SBA-Guaranteed Funding from Legacy BanksLegacy Banks has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Pittsfield, Massachusetts, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Legacy Banks, based in Pittsfield, Massachusetts. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender LEGACY BANKS This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/7/2002 Loan Approval Gross Amount $141,000 Loan Approval from the SBA Of the total $141,000 loan amount, the SBA guaranteed $119,850. 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 4 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours 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: Where to Get an SBA Loan in Pittsfield, Massachusetts
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