Local Business Gets a Massachusetts Small Business Loan

MassachusettsBusiness loans are available to Massachusetts business owners through the SBA. In this case, a Rhode Island bank provides the loan.

Getting a small business loan in New Bedford, Massachusetts was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BOOKS, PERIODICALS, AND NEWSPAPERS
NEW BEDFORD, MA 02745

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This commercial 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.

SIC Code

5192 - Books, Periodicals, and Newspapers

NAICS Code

422920 - Book, Periodical, and Newspaper Wholesalers

Loan Approval Date

8/7/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in New Bedford MA, you ought to talk with a local New Bedford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Bedford businesses.

We can help you find the best banks for small businesses in New Bedford 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:

The Art of Bootstrapping

Small Bank Loans in Providence, Rhode Island

Where to Get an SBA Loan Rhode Island