How to Get a Loan for Commercial Equipment Merchant Wholesalers

With these business loans for commercial equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This commercial equipment merchant wholesalers loan for $195,000 was given to a Massachusetts entrepreneur in 2006.

This small business knew how to go about getting a business bank loan. Based in Uxbridge (census Name Uxbridge, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Commonwealth National Bank, based in Worcester, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL EQUIPMENT MERCHANT WHOLESALERS
UXBRIDGE (CENSUS NAME UXBRIDGE, MA 01569

SBA Loan Lender

COMMONWEALTH NATIONAL BANK
33 WALDO ST
WORCESTER, MA 01608

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423440 - Commercial Equipment Merchant Wholesalers

Loan Approval Date

7/12/2006

Loan Approval Gross Amount

$195,000

Loan Approval from the SBA

Of the total $195,000 loan amount, the SBA guaranteed $97,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request indicated that the borrowed money would help create 4 new jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $195,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Cash Advances

SBA 7A Banks for Worcester, Massachusetts Loans

SBA Massachusetts Lenders