Massachusetts Business Loan Issued to Convenience Stores Company

Bank loans in Massachusetts are hard to find these days. We take a look at one Massachusetts bank loan, provided by a New Jersey bank, that was approved by the SBA.

Getting a small business loan in Framingham, Massachusetts was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
FRAMINGHAM, MA 01702

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

11/28/2001

Loan Approval Gross Amount

$384,000

Loan Approval from the SBA

Of the total $384,000 loan amount, the SBA guaranteed $288,000.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Framingham MA, you ought to talk with a local Framingham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Framingham businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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