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May 9, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Gardner, Business Loans > Athol Savings Bank Gardner Business Loans > Trucking Loan | ||||
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Athol Savings Bank Erving
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Athol Savings Bank SBA Loan to Trucking CompanyAthol Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Erving, Massachusetts was able to borrow $135,000 from Athol Savings Bank. The SBA made the loan possible by guaranteeing $114,750 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: TRUCKING SBA Loan Lender ATHOL SAVINGS BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4213 - Trucking NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 5/27/2003 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $114,750. 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 14 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 $135,000 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: Accountant's Role in Securing Financing SBA 7A Banks in Gardner, Massachusetts
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