Business Loan from Rbs Citizens Given to Drycleaning And Laundry Services Company

An SBA loan from Rbs Citizens typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Somerville, Massachusetts business owner got a $75,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Rbs Citizens, out of Boston, Massachusetts. The loan was granted and they received $75,000 to help grow their Somerville, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
SOMERVILLE, MA 02145

SBA Loan Lender

RBS CITIZENS
28 STATE ST
BOSTON, MA 02109

The lender provided this SBA small business loan 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

812320 - Drycleaning and Laundry Services

Loan Approval Date

11/13/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 40 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 40 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Boston, Massachusetts

Massachusetts SBA 7A Lenders