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May 2, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Somerville, Business Loans > Central Co-Operative Bank Somerville Business Loans > Legal Services Loan | ||||
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Somerville, Massachusetts SBA Banks
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Somerville, Massachusetts Lender Lends Money to Legal Services CompanyA Somerville, Massachusetts business loan can be yours. Learn how a company got a $110,500 business loan from this Massachusetts bank. This loan to an entrepreneur is a good example of an SBA loan. Central Co-Operative Bank made the loan and the SBA guaranteed a portion of the loan. Many other Massachusetts entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: LEGAL SERVICES SBA Loan Lender CENTRAL CO-OPERATIVE BANK This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8111 - Legal Services NAICS Code 541110 - Lawyers Loan Approval Date 11/21/2003 Loan Approval Gross Amount $110,500 Loan Approval from the SBA Of the total $110,500 loan amount, the SBA guaranteed $93,925. 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 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Accountant's Role in Securing Financing SBA Approved Banks in Somerville, Massachusetts
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