SBA Loan from Home Loan Invest Bank F.S.B. Helps School And Employee Bus Transportation Company

An SBA loan from Home Loan Invest Bank F.S.B. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tyngsboro, Massachusetts business owner got a $350,000 loan.

Getting a small business loan in Tyngsboro, Massachusetts was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Home Loan Invest Bank F.S.B., operating out of Warwick, Rhode Island. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOL AND EMPLOYEE BUS TRANSPORTATION
TYNGSBORO, MA 01879

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485410 - School and Employee Bus Transportation

Loan Approval Date

10/16/2007

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 1 new job and 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Home Loan Invest Bank F.S.B. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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