Company Gets a Massachusetts Bank Loan
SBA loans in Massachusetts are are few and far betweeen these days. We take a look at one Massachusetts SBA loan, provided by a Maine bank, that was approved by the SBA.
This small business, based in Easthampton, Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Td Banknorth. We've got the inside scoop on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: PERSONAL CARE SERVICES
EASTHAMPTON, MA 01027
SBA Loan Lender
1 PORTLAND SQ
PORTLAND, ME 04101
The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
812199 - Personal Care Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $33,000 loan amount, the SBA guaranteed $16,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 2 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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.
A Company That Helps Entrepreneurs
Find an SBA Lender in Portland, Maine
Maine SBA 7A Lenders