Where to Get Capital for Insurance Related Activities

With these small business loans for insurance related activities, the SBA guarantees the lender that the loan will be repaid. This insurance related activities loan for $100,000 was given to a Pennsylvania entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Worcester, Pennsylvania was able to borrow $100,000 from Bay State Savings Bank. The SBA made the loan possible by guaranteeing $85,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENTS AND BROKERS
WORCESTER, PA 01604

SBA Loan Lender

BAY STATE SAVINGS BANK
28-32 FRANKLIN ST
WORCESTER, MA 01608

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6411 - Insurance Agents and Brokers

NAICS Code

524298 - Insurance Related Activities

Loan Approval Date

6/19/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Worcester PA, you ought to talk with a local Worcester SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Worcester businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, if it to be, it is up to me!

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:

VC Firms on Twitter

SBA Banks in Worcester, Massachusetts

Find an SBA Lender in Massachusetts