Entrepreneur Works With Springfield, Massachusetts Bank to Get an SBA Loan

Thinking about meeting with a Springfield, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by a Springfield bank, that was approved by the SBA.

Applying for an SBA loan with Bank - Western Massachusetts worked out well for our friends at one local company in Turners Falls, Massachusetts. They got an SBA loan for $357,300. Sweet!

SBA Loan Borrower

COMPANY TYPE: DENTISTS
TURNERS FALLS, MA 01376

SBA Loan Lender

BANK - WESTERN MASSACHUSETTS
1391 MAIN ST, 3RD FL
SPRINGFIELD, MA 01103

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621210 - Dentists

Loan Approval Date

8/14/2003

Loan Approval Gross Amount

$357,300

Loan Approval from the SBA

Of the total $357,300 loan amount, the SBA guaranteed $267,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

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.

This SBA loan was for $357,300. How would you spend $357,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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