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November 14, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Oxford, Business Loans > Hometown Bank A Co-Operative B Oxford Business Loans > Eating Places Loan | ||||
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Sturbridge SBA Loans
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Local Business Gets a Massachusetts Business LoanMassachusettsBusiness loans are available to Massachusetts business owners through the SBA. In this case, a Massachusetts bank provides the loan. Getting a small business loan in Sturbridge, Massachusetts was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Hometown Bank A Co-Operative B. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender HOMETOWN BANK A CO-OPERATIVE B This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/21/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 10 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Who Lends Money to Small Businesses in Oxford, Massachusetts Where to Get an SBA Loan Massachusetts
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