Bank - Western Massachusetts SBA Loan to Retail Stores Company

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

This up and coming company knew how to go about getting a business bank loan. Based in West Springfield, Massachusetts, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Bank - Western Massachusetts, based in Springfield, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
WEST SPRINGFIELD, MA 01089

SBA Loan Lender

BANK - WESTERN MASSACHUSETTS
1391 MAIN ST, 3RD FL
SPRINGFIELD, MA 01103

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

Loan Approval Date

7/20/2000

Loan Approval Gross Amount

$36,000

Loan Approval from the SBA

Of the total $36,000 loan amount, the SBA guaranteed $28,800.

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 only one employee. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Credit Evaluation

SBA Participating Banks in Springfield, Massachusetts

Browse All Business Loan Sources for Massachusetts