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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Somerville, Business Loans > Century Bank And Trust Company Somerville Business Loans > Title Abstract And Settlement Offices Loan | ||||
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Somerville Bank Loan
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Somerville, Massachusetts Bank Gives SBA Loan to Title Abstract And Settlement Offices CompanyFind Somerville, Massachusetts banks that specialize in business loans and know how to work with entrepreneurs. Century Bank And Trust Company is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Salem, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Century Bank And Trust Company. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: TITLE ABSTRACT AND SETTLEMENT OFFICES SBA Loan Lender CENTURY BANK AND TRUST COMPANY This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 541191 - Title Abstract and Settlement Offices Loan Approval Date 4/12/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Century Bank And Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Best Somerville, Massachusetts Banks for Small Business
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