Massachusetts Business Loan Issued to Furniture Stores Company

Small business loans in Massachusetts are hard to find these days. We take a look at one Massachusetts small business loan, provided by a Massachusetts bank, that was approved by the SBA.

This business, based in Weymouth (town Of), Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Rockland Trust Company. We've got the inside scoop on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
WEYMOUTH (TOWN OF), MA 02190

SBA Loan Lender

ROCKLAND TRUST COMPANY
288 UNION ST
ROCKLAND, MA 02370

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

442110 - Furniture Stores

Loan Approval Date

11/4/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

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

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rockland Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Advice on Getting a Small Business Loan

Where to Get an SBA Loan in Rockland, Massachusetts

SBA Massachusetts Banks