Lee, Massachusetts Bank Lends Money to Limited-Service Restaurants Company in Pittsfield, Massachusetts

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

Applying for an SBA loan with Lee Bank worked out well for our friends at one local firm in Pittsfield, Massachusetts. They got an SBA loan for $54,100. Sweet!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
PITTSFIELD, MA 01201

SBA Loan Lender

LEE BANK
75 PARK ST
LEE, MA 01238

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/1/2005

Loan Approval Gross Amount

$54,100

Loan Approval from the SBA

Of the total $54,100 loan amount, the SBA guaranteed $45,985.

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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Lee Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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