Small Business Loans for Fresh and Frozen Seafood Processing

With these small business loans for fresh and frozen seafood processing, the SBA guarantees the lender that the loan will be repaid. This fresh and frozen seafood processing loan for $200,000 was given to a Massachusetts entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bankfive, out of Fall River, Massachusetts. The loan was granted and they received $200,000 to help grow their New Bedford, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: FRESH AND FROZEN SEAFOOD PROCESSING
NEW BEDFORD, MA 02740

SBA Loan Lender

BANKFIVE
79 N MAIN ST
FALL RIVER, MA 02720

The lender provided this bank 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

311712 - Fresh and Frozen Seafood Processing

Loan Approval Date

1/21/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 15 employees. The loan application indicated that the loan would help retain 15 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? 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:

Family and Friend Investors - Your First Financiers

Small Bank Loans in Fall River, Massachusetts

Massachusetts SBA 7A Banks