Florence, Massachusetts Bank Gives SBA Loan to Book Stores Company

Get to know Florence, Massachusetts banks that specialize in SBA loans and know how to work with entrepreneurs. Florence Savings Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Whately, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Florence Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
WHATELY, MA 01373

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

451211 - Book Stores

Loan Approval Date

4/1/2004

Loan Approval Gross Amount

$206,500

Loan Approval from the SBA

Of the total $206,500 loan amount, the SBA guaranteed $103,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Florence Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Florence Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Bank Credit Lines

SBA 7A Banks in Florence, Massachusetts

Massachusetts SBA 7A Lenders