Pittsfield, Massachusetts Lender Lends Money to Hobby, Toy, And Game Stores Company

Want to talk with a Pittsfield, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by a Pittsfield bank, that was approved by the SBA.

Applying for an SBA loan with Legacy Banks worked out well for our friends at one local business in Pittsfield, Massachusetts. The business was able to get an SBA loan for $90,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
PITTSFIELD, MA 01201

SBA Loan Lender

LEGACY BANKS
99 NORTH ST
PITTSFIELD, MA 01201

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

5/24/2005

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Pittsfield MA, you ought to talk with a local Pittsfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pittsfield 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:

Direct Public Offerings

Best Banks in Pittsfield, Massachusetts

Getting an SBA Loan in Massachusetts