Borrowing Money for Residential Remodelers

With these loans for residential remodelers, the SBA guarantees the lender that the loan will be repaid. This residential remodelers loan for $50,000 was given to a Massachusetts entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Weymouth (town Of), Massachusetts was able to borrow $50,000 from South Shore Savings Bank. The SBA made the loan possible by guaranteeing $25,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
WEYMOUTH (TOWN OF), MA 02191

SBA Loan Lender

SOUTH SHORE SAVINGS BANK
1530 MAIN ST
SOUTH WEYMOUTH, MA 02190

The lender provided this small 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

236118 - Residential Remodelers

Loan Approval Date

3/10/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 7 employees. The SBA loan documents indicated that the loan would help retain 7 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Line of Credit

SBA Banks in South Weymouth, Massachusetts

Massachusetts SBA 7A Banks