SBA Loans for Chemical Product and Preparation Manufacturing
Looking for SBA loans for chemical product and preparation manufacturing? The SBA may be the answer. This $150,000 chemical product and preparation manufacturing loan was issued by a Massachusetts bank.
Getting a small business loan in Westfield, Massachusetts was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Newalliance Bank, operating out of West Springfield, Massachusetts. Here are the details on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: CHEMICALS AND CHEMICAL PREPARATIONS
WESTFIELD, MA 01085
SBA Loan Lender
NEWALLIANCE BANK
225 PARK AVE
WEST SPRINGFIELD, MA 01089
This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2899 - Chemicals and Chemical Preparations
NAICS Code
325998 - Chemical Product and Preparation Manufacturing
Loan Approval Date
7/29/2003
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
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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