Company Gets a Massachusetts Business Loan

Would a Massachusetts SBA loan help your business get to the next level? If so, you may want to talk with this Rhode Island bank, which offers SBA loans to Massachusetts entrepreneurs.

This business, based in Taunton, Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Sovereign Bank. We've got the inside scoop on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL, INDUSTRIAL, INSTITUTIONAL ELECTRIC LIG
TAUNTON, MA 02906

SBA Loan Lender

SOVEREIGN BANK
ONE FINANCIAL PLZ
PROVIDENCE, RI 02903

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.

SIC Code

3646 - Commercial, Industrial, Institutional Electric Lig

NAICS Code

335122 - Commercial and Industrial Electric Lighting Fixture Manufacturing

Loan Approval Date

7/26/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. This SBA loan request did not indicate that the company promised to use the money to add employees 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.

We can help you find the best banks for small businesses in Taunton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Direct Public Offerings

SBA 7A Banks for Providence, Rhode Island Loans

Rhode Island SBA 7A Lenders