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April 20, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > South Yarmouth, Business Loans > Cape Cod Bank & Trust Natl South Yarmouth Business Loans > Computer Related Services Loan | ||||
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Massachusetts Bank SBA Loans
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Cape Cod Bank & Trust Natl SBA Loan to Computer Related Services CompanyLooking to get a Massachusetts business loan? Here's one Massachusetts business loan that was approved by the SBA. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Cape Cod Bank & Trust Natl, out of South Yarmouth, Massachusetts. The loan was granted and they received $18,000 to help grow their Dorchester, Massachusetts business. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender CAPE COD BANK & TRUST NATL This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 7379 - Computer Related Services Loan Approval Date 3/17/2000 Loan Approval Gross Amount $18,000 Loan Approval from the SBA Of the total $18,000 loan amount, the SBA guaranteed $9,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cape Cod Bank & Trust Natl had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cape Cod Bank & Trust Natl made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Where to Get an SBA Loan in South Yarmouth, Massachusetts
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