 |
 |
November 24, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Somerville, Business Loans > Century Bank And Trust Company Somerville Business Loans > Full-Service Restaurants Loan | ||||
 |
||||
Century Bank And Trust Company Commercial Loans
|
||||
 |
Full-Service Restaurants Bank LoansLooking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $33,700 full-service restaurants loan was issued by a Massachusetts bank. Getting a small business loan in West Bridgewater, Massachusetts was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Century Bank And Trust Company, operating out of Somerville, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender CENTURY BANK AND TRUST COMPANY 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 722110 - Full-Service Restaurants Loan Approval Date 5/24/2007 Loan Approval Gross Amount $33,700 Loan Approval from the SBA Of the total $33,700 loan amount, the SBA guaranteed $16,850. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding. 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: Banks in Somerville, Massachusetts Browse All Business Loan Sources for Massachusetts
|
|
||
|
||||
|
|
||||