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April 20, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Chicopee, Business Loans > Chicopee Savings Bank Chicopee Business Loans > Coin-Operated Laundries And Drycleaning Loan | ||||
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Chicopee Bank Loan
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Chicopee, Massachusetts Bank Lends Money to Coin-Operated Laundries And Drycleaning Company in Holyoke, MassachusettsThinking about meeting with a Chicopee, Massachusetts bank about an SBA loan? Here's one Massachusetts business loan, issued by a Chicopee bank, that was approved by the SBA. Applying for an SBA loan with Chicopee Savings Bank worked out well for our friends at one local company in Holyoke, Massachusetts. They got an SBA loan for $147,000. Sweet! SBA Loan Borrower COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING SBA Loan Lender CHICOPEE SAVINGS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7215 - Coin-Operated Laundries and Drycleaning NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 12/13/2002 Loan Approval Gross Amount $147,000 Loan Approval from the SBA Of the total $147,000 loan amount, the SBA guaranteed $124,950. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Chicopee Savings Bank and they will explain how you can get an SBA loan for your company. 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: Dealing With Venture Capitalists Where to Get an SBA Loan in Chicopee, Massachusetts
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