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April 26, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Pittsfield, Business Loans > Legacy Banks Pittsfield Business Loans > Specialty Food Stores Loan | ||||
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Legacy Banks
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Legacy Banks SBA Loan to Specialty Food Stores CompanyAn SBA loan from Legacy Banks typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Great Barrington, Massachusetts business owner got a $100,000 loan. This growing company knew how to go about getting a business bank loan. Based in Great Barrington, Massachusetts, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Legacy Banks, based in Pittsfield, Massachusetts. SBA Loan Borrower COMPANY TYPE: SPECIALTY FOOD STORES SBA Loan Lender LEGACY BANKS This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 445299 - Specialty Food Stores Loan Approval Date 11/20/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Legacy Banks 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: SBA Approved Banks in Pittsfield, Massachusetts Massachusetts SBA Bank Lenders
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