Massachusetts Small Business Loan Issued to Retail Bakeries Company
Looking to get a Massachusetts SBA loan? This Massachusetts entrepreneur got an SBA loan, provided by a Rhode Island bank that works with the SBA to help small business owners.
Getting a small business loan in Springfield, Massachusetts was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: RETAIL BAKERIES
SPRINGFIELD, MA 01118
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
311811 - Retail Bakeries
Loan Approval Date
7/30/2002
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 39 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 41 existing jobs.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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.
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