SBA Loan from Familyfirst Bank Helps Business Services Company

An SBA loan from Familyfirst Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Ware, Massachusetts business owner got a $34,500 loan.

This small firm knew how to go about getting a business bank loan. Based in Ware, Massachusetts, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Familyfirst Bank, based in Ware, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
WARE, MA 01082

SBA Loan Lender

FAMILYFIRST BANK
40 MAIN ST
WARE, MA 01082

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

10/30/2002

Loan Approval Gross Amount

$34,500

Loan Approval from the SBA

Of the total $34,500 loan amount, the SBA guaranteed $29,325.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Familyfirst Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Familyfirst Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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