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March 28, 2024  
 
 
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Raising Money in Great Barrington, Massachusetts With SBA Loans

 

 
Loan Census SBA Loan Info

Furniture Stores SBA Loans

Looking for SBA loans for furniture stores? Talk to a banker who works with the SBA. This $25,000 furniture stores loan was issued by a Massachusetts bank.

Getting a small business loan in Great Barrington, Massachusetts was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Berkshire Bank, operating out of Pittsfield, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
GREAT BARRINGTON, MA 01230

SBA Loan Lender

BERKSHIRE BANK
24 NORTH ST
PITTSFIELD, MA 01201

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

9/25/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Berkshire Bank 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.

Related Links:

How to Raise Money

Banks in Pittsfield, Massachusetts

Massachusetts SBA Bank Lenders