Financing for Business Associations

Looking for commercial loans for business associations? An SBA loan may be just what you've been looking for. This $200,000 business associations loan was issued by a Massachusetts bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Somerville, Massachusetts was able to borrow $200,000 from Wainwright Bank & Trust. The SBA made the loan possible by guaranteeing $100,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS ASSOCIATIONS
SOMERVILLE, MA 02143

SBA Loan Lender

WAINWRIGHT BANK & TRUST
63 FRANKLIN ST
BOSTON, MA 02110

This bank 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

813910 - Business Associations

Loan Approval Date

9/21/2007

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 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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

Related Links:

Equity Financing

Small Bank Loans in Boston, Massachusetts

Massachusetts SBA Bank Lenders