Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

We Needed a Business Loan in Dennis Port, Massachusetts and We Got One!

 

 
Loan Census SBA Loan Info

Specialty Trade Contractors Loans

Looking for loans for specialty trade contractors? An SBA loan may be just what you've been looking for. This $96,000 specialty trade contractors loan was issued by a Massachusetts bank.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Digital Fcu, out of Marlborough, Massachusetts. The loan was granted and they received $96,000 to help grow their Dennis Port, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
DENNIS PORT, MA 02639

SBA Loan Lender

DIGITAL FCU
220 DONALD LYNCH BLVD
MARLBOROUGH, MA 01752

This lender processed this bank 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

238990 - Specialty Trade Contractors

Loan Approval Date

3/28/2005

Loan Approval Gross Amount

$96,000

Loan Approval from the SBA

Of the total $96,000 loan amount, the SBA guaranteed $48,000.

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 10 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $96,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

The Art of Bootstrapping

Small Bank Loans in Marlborough, Massachusetts

Massachusetts SBA Banks