Business Loan from United Commercial Bank Given to Eating Places Company

An SBA loan from United Commercial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Woburn, Massachusetts business owner got a $700,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Woburn, Massachusetts was able to borrow $700,000 from United Commercial Bank. The SBA made the loan possible by guaranteeing $525,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WOBURN, MA 01801

SBA Loan Lender

UNITED COMMERCIAL BANK
68 HARRISON AVE
BOSTON, MA 02111

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/23/2004

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 12 employees. The loan application did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from United Commercial Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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