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May 3, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Weymouth, Business Loans > South Shore Co-Operative Bank Weymouth Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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Small Business Banks in Massachusetts
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Where to Get Capital for Sporting Goods StoresLooking for small business loans for sporting goods stores? The SBA may be the answer. This $475,000 sporting goods stores loan was issued by a Massachusetts bank. Getting a small business loan in Abington, Massachusetts was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from South Shore Co-Operative Bank, operating out of Weymouth, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender SOUTH SHORE CO-OPERATIVE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5941 - Sporting Goods Stores and Bicycle Shops NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 4/23/2003 Loan Approval Gross Amount $475,000 Loan Approval from the SBA Of the total $475,000 loan amount, the SBA guaranteed $356,250. 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 6 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like South Shore Co-Operative Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Determining Proper Capital Structure for a Business SBA Participating Banks in Weymouth, Massachusetts
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