Springfield, Massachusetts Bank Lends Money to Physical Fitness Facilities Company in Westfield, Massachusetts
Thinking about meeting with a Springfield, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by a Springfield bank, that was approved by the SBA.
Applying for an SBA loan with Bank - Western Massachusetts worked out well for our friends at one local company in Westfield, Massachusetts. They got an SBA loan for $150,000. Awesome!
SBA Loan Borrower
COMPANY TYPE: PHYSICAL FITNESS FACILITIES
WESTFIELD, MA 01077
SBA Loan Lender
BANK - WESTERN MASSACHUSETTS
1391 MAIN ST, 3RD FL
SPRINGFIELD, MA 01103
This lender issued this particular loan 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
7991 - Physical Fitness Facilities
NAICS Code
713940 - Fitness and Recreational Sports Centers
Loan Approval Date
6/4/2002
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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 50 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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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