Readville, Massachusetts Entrepreneur Gets a Business Loan

MassachusettsBank loans are available to Massachusetts firms through the SBA. In this case, a Massachusetts bank provides the loan.

This company, based in Readville, Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Hometown Bank A Co-Operative B. We've got the inside scoop on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: REFUSE SYSTEMS
READVILLE, MA 02136

SBA Loan Lender

HOMETOWN BANK A CO-OPERATIVE B
31 SUTTON AVE
OXFORD, MA 01540

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

4953 - Refuse Systems

NAICS Code

562211 - Hazardous Waste Treatment and Disposal

Loan Approval Date

4/30/2002

Loan Approval Gross Amount

$44,000

Loan Approval from the SBA

Of the total $44,000 loan amount, the SBA guaranteed $37,400.

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 15 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $44,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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