Springfield, Massachusetts Bank Gives SBA Loan to Wrecking And Demolition Work Company
Find Springfield, Massachusetts banks that specialize in business loans and know how to work with entrepreneurs. Ups Capital Business Credit is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Worcester, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Ups Capital Business Credit. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: WRECKING AND DEMOLITION WORK
WORCESTER, MA 01603
SBA Loan Lender
UPS CAPITAL BUSINESS CREDIT
ONE MONARCH PL
SPRINGFIELD, MA 01144
When this loan was made, this bank was part of the SBA's Certified Lenders Program (CLP). This program aims to give quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
1795 - Wrecking and Demolition Work
NAICS Code
237990 - Heavy and Civil Engineering Construction
Loan Approval Date
10/29/2003
Loan Approval Gross Amount
$655,000
Loan Approval from the SBA
Of the total $655,000 loan amount, the SBA guaranteed $491,250.
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 25 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ups Capital Business Credit had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ups Capital Business Credit 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.
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