Westfield, MA Entrepreneur Gets SBA Loan to Buy Sylvan Learning Center Franchise

Need money to buy a Sylvan Learning Center franchise? Bank - Western Massachusetts has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Sylvan Learning Center franchise? If so, here's a 2001 SBA franchise loan that you should know about. Bank - Western Massachusetts was the lender and the entrepreneur was based in Westfield, Massachusetts.

SBA Loan Borrower

NORTHEAST LEARNING CENTERS INC
WESTFIELD, MA 01089

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611710 - Educational Support Services

Loan Approval Date

6/29/2001

Loan Approval Gross Amount

$845,000

Loan Approval from the SBA

Of the total $845,000 loan amount, the SBA guaranteed $633,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 60 employees. The SBA loan documents indicated that the loan would help retain 60 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank - Western Massachusetts so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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