Manufacturing Loans
Looking for loans for manufacturing? An SBA loan may be just what you've been looking for. This $323,000 manufacturing loan was issued by a Massachusetts bank.
This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank - Western Massachusetts, out of Springfield, Massachusetts. The loan was granted and they received $323,000 to help grow their Stoughton (town Of), Massachusetts business.
SBA Loan Borrower
COMPANY TYPE: MANUFACTURING
STOUGHTON (TOWN OF), MA 02072
SBA Loan Lender
BANK - WESTERN MASSACHUSETTS
1391 MAIN ST, 3RD FL
SPRINGFIELD, MA 01103
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
339999 - Manufacturing
Loan Approval Date
6/29/2004
Loan Approval Gross Amount
$323,000
Loan Approval from the SBA
Of the total $323,000 loan amount, the SBA guaranteed $242,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 7 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 7 existing jobs.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bank - Western Massachusetts 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:
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SBA Participating Banks in Springfield, Massachusetts
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