Southbridge Savings Bank SBA Loan to Offices And Clinics Of Podiatrists Company

Southbridge Savings Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them.

Getting a small business loan in Sturbridge, Massachusetts was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Southbridge Savings Bank, operating out of Southbridge, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: OFFICES AND CLINICS OF PODIATRISTS
STURBRIDGE, MA 01566

SBA Loan Lender

SOUTHBRIDGE SAVINGS BANK
253 MAIN ST
SOUTHBRIDGE, MA 01550

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8043 - Offices and Clinics of Podiatrists

NAICS Code

621391 - Podiatrists

Loan Approval Date

1/16/2001

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 2 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Southbridge Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Southbridge Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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