Taunton, Massachusetts Bank Gives SBA Loan to Convenience Stores Company

Get business loans from a Taunton, Massachusetts bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Mechanics Co-Operative Bank is a Taunton, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Massachusetts company.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
TAUNTON, MA 02780

SBA Loan Lender

MECHANICS CO-OPERATIVE BANK
308 BAY ST
TAUNTON, MA 02780

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

6/26/2006

Loan Approval Gross Amount

$291,208

Loan Approval from the SBA

Of the total $291,208 loan amount, the SBA guaranteed $218,406.

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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $291,208 loan. Remember, feel the fear, and do it anyway.

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:

Getting a Small Business Loan

Where to Get an SBA Loan in Taunton, Massachusetts

Massachusetts SBA 7A Lenders