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April 18, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Rockland, Business Loans > Rockland Trust Company Rockland Business Loans > Packaging Machinery Manufacturing Loan | ||||
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Get a Business Loan from Rockland Trust Company
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Business Loan from Rockland Trust Company Given to Packaging Machinery Manufacturing CompanyAn SBA loan from Rockland Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fall River, Massachusetts business owner got a $50,000 loan. This business knew how to go about getting a business bank loan. Based in Fall River, Massachusetts, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Rockland Trust Company, based in Rockland, Massachusetts. SBA Loan Borrower COMPANY TYPE: PACKAGING MACHINERY MANUFACTURING SBA Loan Lender ROCKLAND TRUST COMPANY The lender provided this SBA small business 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. NAICS Code 333993 - Packaging Machinery Manufacturing Loan Approval Date 7/28/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: A Company That Helps Entrepreneurs Find an SBA Lender in Rockland, Massachusetts
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