Business Loan from Newalliance Bank Given to Drugs And Druggists' Sundries Merchant Wholesalers Company

Newalliance Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them.

Getting a small business loan in Monson (census Name For Monson, Massachusetts was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Newalliance Bank, operating out of West Springfield, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: DRUGS AND DRUGGISTS' SUNDRIES MERCHANT WHOLESALERS
MONSON (CENSUS NAME FOR MONSON, MA 01057

SBA Loan Lender

NEWALLIANCE BANK
225 PARK AVE
WEST SPRINGFIELD, MA 01089

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

424210 - Drugs and Druggists' Sundries Merchant Wholesalers

Loan Approval Date

8/13/2004

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $67,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Newalliance Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

SBIR Funding

SBA 7A Banks for West Springfield, Massachusetts Loans

Massachusetts SBA 7A Banks