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May 18, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Gloucester, Business Loans > Gloucester Co-Operative Bank Gloucester Business Loans > Personal And Household Goods Repair And Maintenance Loan | ||||
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Gloucester Co-Operative Bank Gloucester
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Gloucester, Massachusetts Business Gets SBA-Guaranteed Funding from Gloucester Co-Operative BankGloucester Co-Operative Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Gloucester Co-Operative Bank, out of Gloucester, Massachusetts. The loan was granted and they received $75,000 to help grow their Gloucester, Massachusetts business. SBA Loan Borrower COMPANY TYPE: PERSONAL AND HOUSEHOLD GOODS REPAIR AND MAINTENANCE SBA Loan Lender GLOUCESTER CO-OPERATIVE BANK The lender provided this loan for a small business 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 811490 - Personal and Household Goods Repair and Maintenance Loan Approval Date 10/26/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 21 employees. The SBA loan application for the borrower indicated that the loan would help retain 21 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Gloucester Co-Operative Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Gloucester Co-Operative Bank 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: SBA Participating Banks in Gloucester, Massachusetts Where to Get an SBA Loan Massachusetts
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