Pittsfield, Massachusetts Bank Gives SBA Loan to Variety Stores Company

A Pittsfield, Massachusetts small business loan can be yours. Learn how a business got a $59,000 business loan from this Massachusetts bank.

This loan to a local firm is a good example of an SBA loan. Berkshire Bank made the loan and the SBA guaranteed a portion of the loan. Many other Massachusetts entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
PITTSFIELD, MA 01201

SBA Loan Lender

BERKSHIRE BANK
24 NORTH ST
PITTSFIELD, MA 01201

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.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

1/13/2003

Loan Approval Gross Amount

$59,000

Loan Approval from the SBA

Of the total $59,000 loan amount, the SBA guaranteed $50,150.

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 3 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Berkshire Bank 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.

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