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April 19, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Rbs Citizens Boston Business Loans > Abrasive Product Manufacturing Loan | ||||
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Boston Bank Loan
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Entrepreneur Works With Boston, Massachusetts Bank to Get an SBA LoanThinking about meeting with a Boston, Massachusetts bank about an SBA loan? Here's one Massachusetts business loan, issued by a Boston bank, that was approved by the SBA. Applying for an SBA loan with Rbs Citizens worked out well for our friends at one local company in Canton, Massachusetts. The business was able to get an SBA loan for $97,000. Sweet! SBA Loan Borrower COMPANY TYPE: ABRASIVE PRODUCT MANUFACTURING SBA Loan Lender RBS CITIZENS This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 327910 - Abrasive Product Manufacturing Loan Approval Date 11/20/2002 Loan Approval Gross Amount $97,000 Loan Approval from the SBA Of the total $97,000 loan amount, the SBA guaranteed $48,500. 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 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Getting an SBA Loan For Your Business Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rbs Citizens that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Small Business Banks in Boston, Massachusetts
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