SBA Loan from Pittsfield Co-Operative Bk Helps Local Trucking With Storage Company

Pittsfield Co-Operative Bk is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Pittsfield, Massachusetts was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Pittsfield Co-Operative Bk, operating out of Pittsfield, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITH STORAGE
PITTSFIELD, MA 01201

SBA Loan Lender

PITTSFIELD CO-OPERATIVE BK
70 SOUTH ST
PITTSFIELD, MA 01201

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4214 - Local Trucking With Storage

Loan Approval Date

5/4/2000

Loan Approval Gross Amount

$88,200

Loan Approval from the SBA

Of the total $88,200 loan amount, the SBA guaranteed $70,560.

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 5 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Pittsfield Co-Operative Bk that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

The Friends and Family Network

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SBA Lenders in Massachusetts