Cambridge Savings Bank SBA Loan to Eating Places Company

Want a Massachusetts business loan? Here's one Massachusetts business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Cambridge Savings Bank, out of Cambridge, Massachusetts. The loan was granted and they received $70,640 to help grow their Watertown, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WATERTOWN, MA 02472

SBA Loan Lender

CAMBRIDGE SAVINGS BANK
1374 MASSACHUSETTS AVE
CAMBRIDGE, MA 02138

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

8/18/2000

Loan Approval Gross Amount

$70,640

Loan Approval from the SBA

Of the total $70,640 loan amount, the SBA guaranteed $56,512.

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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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