Sturbridge, Massachusetts Business Gets SBA-Guaranteed Funding from Southbridge Savings Bank

Southbridge Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Sturbridge, Massachusetts, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Southbridge Savings Bank, based in Southbridge, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
STURBRIDGE, MA 01566

SBA Loan Lender

SOUTHBRIDGE SAVINGS BANK
253 MAIN ST
SOUTHBRIDGE, MA 01550

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

1/26/2005

Loan Approval Gross Amount

$80,750

Loan Approval from the SBA

Of the total $80,750 loan amount, the SBA guaranteed $60,563.

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 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

SBIR Funding

Best Southbridge, Massachusetts Banks for Small Business

Find an SBA Lender in Massachusetts