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October 19, 2020  
 
 
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Raising Money in Chelsea, Massachusetts With SBA Loans

 

 
Loan Census SBA Loan Info

Perishable Prepared Food Manufacturing Small Business Loans

Looking for small business loans for perishable prepared food manufacturing? An SBA loan may be just what you've been looking for. This $300,000 perishable prepared food manufacturing loan was issued by a Massachusetts bank.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Sovereign Bank, out of Dorchester, Massachusetts. The loan was granted and they received $300,000 to help grow their Chelsea, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: PERISHABLE PREPARED FOOD MANUFACTURING
CHELSEA, MA 02150

SBA Loan Lender

SOVEREIGN BANK
2 MORRISEY BLVD
DORCHESTER, MA 02125

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

311991 - Perishable Prepared Food Manufacturing

Loan Approval Date

2/12/2007

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 30 employees. The SBA loan documents indicated that the loan would help generate 30 new jobs and retain 60 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sovereign 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.

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