Raising Money for Store Retailers

With these bank loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $207,000 was given to a Massachusetts entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Westport, Massachusetts was able to borrow $207,000 from Bankfive. The SBA made the loan possible by guaranteeing $103,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
WESTPORT, MA 02790

SBA Loan Lender

BANKFIVE
79 N MAIN ST
FALL RIVER, MA 02720

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

453998 - Store Retailers

Loan Approval Date

8/30/2004

Loan Approval Gross Amount

$207,000

Loan Approval from the SBA

Of the total $207,000 loan amount, the SBA guaranteed $103,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Famous Venture Capitalists

Good Banks for Small Business in Fall River, Massachusetts

Getting a Business Loan in Massachusetts