Loan Census Banking News and Information
August 8, 2020  
 
 
  Business Loan Information  
 

Massachusetts Small Business Funding for Franchises

 

 
Loan Census SBA Loan Info

Borrow Money to Buy a Retro Foam Franchise

Need money to invest in a Retro Foam franchise? Century Bank And Trust Company has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Marblehead (town Of), Massachusetts needed money to invest in a Retro Foam franchise back in 2006. Century Bank And Trust Company issued an SBA franchise loan. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

RETROFOAM OF MASSACHUSETTS INC
MARBLEHEAD (TOWN OF), MA 01945

SBA Loan Lender

CENTURY BANK AND TRUST COMPANY
102 FELLSWAY WEST
SOMERVILLE, MA 02145

This SBA business loan 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

238310 - Drywall and Insulation Contractors

Loan Approval Date

5/31/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Retro Foam franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

The Art of Bootstrapping

Small Bank Loans in Somerville, Massachusetts

Massachusetts SBA Bank Lenders