Business Loan from Massachusetts Business Given to Electroplating, Plating, Polishing, Anodizing, And Coloring Company

An SBA loan from Massachusetts Business typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lawrence, Massachusetts business owner got a $600,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lawrence, Massachusetts was able to borrow $600,000 from Massachusetts Business. The SBA made the loan possible by guaranteeing $450,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTROPLATING, PLATING, POLISHING, ANODIZING, AND COLORING
LAWRENCE, MA 01843

SBA Loan Lender

MASSACHUSETTS BUSINESS
500 EDGEWATER DR., SUITE 555
WAKEFIELD, MA 01880

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332813 - Electroplating, Plating, Polishing, Anodizing, and Coloring

Loan Approval Date

4/6/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 190 employees. The SBA loan application for the borrower indicated that the funding would help generate 40 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Massachusetts Business that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Famous Venture Capitalists

Best Wakefield, Massachusetts Banks for Small Business

Massachusetts SBA 7A Lenders