Getting an SBA Loan for Individual and Family Services

With these commercial loans for individual and family services, the SBA guarantees the lender that the loan will be repaid. This individual and family services loan for $156,000 was given to a Massachusetts entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in West Boylston, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Bay State Savings Bank, based in Worcester, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: INDIVIDUAL AND FAMILY SERVICES
WEST BOYLSTON, MA 01583

SBA Loan Lender

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

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

624190 - Individual and Family Services

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$156,000

Loan Approval from the SBA

Of the total $156,000 loan amount, the SBA guaranteed $78,000.

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 indicated that the loan would help generate 1 new job.

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SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We've showcased information on this loan to let you know that businesses like yours 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:

Bank Credit Lines

SBA 7A Lenders in Worcester, Massachusetts

SBA Participating Banks in Massachusetts