How to Get a Loan for Drywall, Plastering, Acoustical, and Insulation Contractors

Looking for SBA loans for drywall, plastering, acoustical, and insulation contractors? An SBA loan may be just what you've been looking for. This $50,000 drywall, plastering, acoustical, and insulation contractors loan was issued by a Massachusetts bank.

Getting a small business loan in West Boylston, Massachusetts was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bay State Savings Bank, operating out of Worcester, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE WORK
WEST BOYLSTON, MA 01583

SBA Loan Lender

BAY STATE SAVINGS BANK
28-32 FRANKLIN ST
WORCESTER, MA 01608

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

1771 - Concrete Work

NAICS Code

235420 - Drywall, Plastering, Acoustical, and Insulation Contractors

Loan Approval Date

4/11/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 5 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money to grow a business, an SBA loan can be a great funding source

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:

Angel Investors

SBA Approved Banks in Worcester, Massachusetts

SBA Participating Banks in Massachusetts