Norwood, Massachusetts Bank Gives SBA Loan to Reupholstery And Furniture Repair Company

Want to talk with a Norwood, Massachusetts bank about an SBA loan? Here's one Massachusetts business loan, issued by a Norwood bank, that was approved by the SBA.

Applying for an SBA loan with Rbs Citizens worked out well for our friends at one local business in Lowell, Massachusetts. The business was able to get an SBA loan for $5,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR
LOWELL, MA 01851

SBA Loan Lender

RBS CITIZENS
725 CANTON ST
NORWOOD, MA 02062

The lender provided this SBA business loan 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

811420 - Reupholstery and Furniture Repair

Loan Approval Date

9/27/2002

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $2,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in 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 3 new jobs and retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 Rbs Citizens 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:

How Equity Dilution Works

Best Banks for Small Business in Norwood, Massachusetts

Find an SBA Lender in Massachusetts