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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Springfield, Business Loans > Hampden Bank Springfield Business Loans > Eating Places Loan | ||||
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Hampden Bank Loans
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Borrowing Money for Full-Service RestaurantsLooking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $220,000 full-service restaurants loan was issued by a Massachusetts bank. This small firm knew how to go about getting a business bank loan. Based in Springfield, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Hampden Bank, based in Springfield, Massachusetts. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender HAMPDEN BANK This business 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 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/11/2003 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $165,000. 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 42 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Hampden Bank 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: Find an SBA Lender in Springfield, Massachusetts Getting an SBA Loan in Massachusetts
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