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November 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Westfield, Business Loans > Westfield Bank Westfield Business Loans > Machine Shops Loan | ||||
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SBA Lenders for Westfield Business Owners
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Machine Shops SBA LoansLooking for SBA loans for machine shops? An SBA loan may be just what you've been looking for. This $120,000 machine shops loan was issued by a Massachusetts bank. Getting a small business loan in Westfield, Massachusetts was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Westfield Bank, operating out of Westfield, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender WESTFIELD BANK 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 332710 - Machine Shops Loan Approval Date 4/19/2005 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $60,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. While you may be able to borrow money from friends and family, 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: Role of Business Plan When Raising Money Small Business Banks in Westfield, Massachusetts
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