Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

Banks Doing SBA Loans in Massachusetts

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Springfield, Massachusetts Bank to Get an SBA Loan

Get SBA loans from a Springfield, Massachusetts bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Hampden Bank is a Springfield, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Massachusetts company.

SBA Loan Borrower

COMPANY TYPE: CONCRETE PRODUCTS
SOUTH HADLEY, MA 01075

SBA Loan Lender

HAMPDEN BANK
19 HARRISON AVE
SPRINGFIELD, MA 01103

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3272 - Concrete Products

NAICS Code

327390 - Concrete Product Manufacturing

Loan Approval Date

7/16/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Raising Venture Capital

SBA Approved Banks in Springfield, Massachusetts

SBA Massachusetts Lenders