Bank Loans for Lessors of Nonresidential Buildings

Looking for bank loans for lessors of nonresidential buildings? Try the SBA. This $200,000 lessors of nonresidential buildings loan was issued by a Massachusetts bank.

This small firm knew how to go about getting a business bank loan. Based in Quincy, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Sovereign Bank, based in Abington, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
QUINCY, MA 02369

SBA Loan Lender

SOVEREIGN BANK
533 WASHINGTON ST
ABINGTON, MA 02351

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

1/30/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

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

We can help you find the best banks for small businesses in Quincy or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

SBIR Funding

Good Banks for Small Business in Abington, Massachusetts

Getting a Business Loan in Massachusetts