Financing for Electronic Shopping

With these loans for electronic shopping, the SBA guarantees the lender that the loan will be repaid. This electronic shopping loan for $25,000 was given to a Massachusetts entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Waltham, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC SHOPPING
WALTHAM, MA 02453

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

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

454111 - Electronic Shopping

Loan Approval Date

12/18/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Waltham MA, you ought to talk with a local Waltham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Waltham businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Understanding Dilution

Banks in Providence, Rhode Island

Getting a Business Loan in Rhode Island