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November 14, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Windsor, Business Loans > Ups Capital Business Credit Windsor Business Loans > Electronic Components Loan | ||||
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Raising Money in Springfield, Massachusetts With SBA Loans
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Springfield, Massachusetts Entrepreneur Gets an SBA LoanWould a Massachusetts business loan help your company expand? If so, you may want to talk with this Connecticut bank, which offers SBA loans to Massachusetts entrepreneurs. By giving the right information to Ups Capital Business Credit, this Springfield, Massachusetts business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: ELECTRONIC COMPONENTS SBA Loan Lender UPS CAPITAL BUSINESS CREDIT The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3679 - Electronic Components NAICS Code 334220 - Radio and Television Broadcasting and Wireless Communications Equipment Loan Approval Date 2/13/2001 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $200,000. 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 160 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your 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. We've showcased information on this loan to let you know that businesses like yours 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: SBA Participating Banks in Windsor, Connecticut
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