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April 18, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Florence, Business Loans > Florence Savings Bank Florence Business Loans > On-Line Information Services Loan | ||||
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Florence Savings Bank
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Florence Savings Bank SBA Loan to On-Line Information Services CompanyFlorence Savings Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Florence Savings Bank, out of Florence, Massachusetts. The loan was granted and they received $175,000 to help grow their Northampton, Massachusetts business. SBA Loan Borrower COMPANY TYPE: ON-LINE INFORMATION SERVICES SBA Loan Lender FLORENCE SAVINGS BANK This lender processed this 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 514191 - On-Line Information Services Loan Approval Date 7/8/2005 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $87,500. 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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Florence Savings Bank and they will explain how you can get an SBA loan for your company. 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 Friends and Family Network Who Lends Money to Small Businesses in Florence, Massachusetts
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