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May 4, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Oxford, Business Loans > Hometown Bank A Co-Operative B Oxford Business Loans > Computer Maintenance And Repair Loan | ||||
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Raising Money in Millbury, Massachusetts With SBA Loans
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Millbury, Massachusetts Entrepreneur Gets a Small Business LoanBusiness loans in Massachusetts are tough to come by these days. We take a look at one Massachusetts business loan, provided by a Massachusetts bank, that was approved by the SBA. Getting a small business loan in Millbury, Massachusetts was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Hometown Bank A Co-Operative B. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER MAINTENANCE AND REPAIR SBA Loan Lender HOMETOWN BANK A CO-OPERATIVE B This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7378 - Computer Maintenance and Repair NAICS Code 443120 - Computer and Software Stores Loan Approval Date 6/26/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. We can help you find the best banks for small businesses in Millbury or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Small Bank Loans in Oxford, Massachusetts
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