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November 24, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Rbs Citizens Providence Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Getting a Small Business Loan in Quincy, Massachusetts
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Rbs Citizens Gives SBA Loan to Fitness And Recreational Sports Centers CompanyLooking to get a Massachusetts small business loan? This Massachusetts entrepreneur got a small business loan, provided by a Rhode Island bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Quincy, Massachusetts by studying this loan to a local company, made back in 2006. Banks like Rbs Citizens may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender RBS CITIZENS The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 3/30/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Banks in Providence, Rhode Island Getting a Business Loan in Rhode Island
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