Home Loan Invest Bank F.S.B. Gives SBA Loan to General Automotive Repair Company

Bank loans in Massachusetts are are few and far betweeen these days. We take a look at one Massachusetts bank loan, provided by a Rhode Island bank, that was approved by the SBA.

Getting a small business loan in Westfield, Massachusetts was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Home Loan Invest Bank F.S.B.. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
WESTFIELD, MA 01085

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

7/19/2006

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you want money for new small business in Westfield MA, you ought to talk with a local Westfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Westfield businesses.

We can help you find the best banks for small businesses in Westfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Obtaining Funding - How to Borrow Money

Who Lends Money to Small Businesses in Warwick, Rhode Island

SBA Rhode Island Lenders