Entrepreneur Works With Boston, Massachusetts Bank to Get an SBA Loan
Want to talk with a Boston, Massachusetts bank about a business loan? Here's one Massachusetts business loan, issued by a Boston bank, that was approved by the SBA.
Applying for an SBA loan with Rbs Citizens worked out well for our friends at one local business in Walpole, Massachusetts. They got an SBA loan for $250,000. Awesome!
SBA Loan Borrower
COMPANY TYPE: FISH AND SEAFOOD MERCHANT WHOLESALERS
WALPOLE, MA 02090
SBA Loan Lender
RBS CITIZENS
28 STATE ST
BOSTON, MA 02109
The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
424460 - Fish and Seafood Merchant Wholesalers
Loan Approval Date
3/24/2003
Loan Approval Gross Amount
$250,000
Loan Approval from the SBA
Of the total $250,000 loan amount, the SBA guaranteed $187,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Rbs Citizens and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
Alternative Financing
Good Banks for Small Business in Boston, Massachusetts
Massachusetts SBA 7A Banks