Southfield, Massachusetts Business Gets SBA-Guaranteed Funding from Greylock Fcu

Greylock Fcu and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Southfield, Massachusetts was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Greylock Fcu, operating out of Pittsfield, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
SOUTHFIELD, MA 01259

SBA Loan Lender

GREYLOCK FCU
150 WEST ST
PITTSFIELD, MA 01201

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5399 - General Merchandise Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

11/10/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $30,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Greylock Fcu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

SBA 7A Banks in Pittsfield, Massachusetts

Massachusetts SBA 7A Lenders