Newton, Massachusetts Business Gets SBA-Guaranteed Funding from Branch Bank & Trust
Branch Bank & Trust has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them.
This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Branch Bank & Trust, out of Winston Salem, North Carolina. The loan was granted and they received $2,000,000 to help grow their Newton, Massachusetts business.
SBA Loan Borrower
COMPANY TYPE: VETERINARY SERVICES
Newton, MA 02466
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
541940 - Veterinary Services
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.
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 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $2,000,000 loan. Remember, feel the fear, and do it anyway.
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.
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