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May 4, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Oxford, Business Loans > Hometown Bank A Co-Operative B Oxford Business Loans > Store Retailers Loan | ||||
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Banks That Lend to Massachusetts Small Businesses
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Massachusetts Small Business Loan Issued to Store Retailers CompanyWant a Massachusetts business loan? This Massachusetts entrepreneur got a business loan, provided by a Massachusetts bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Oxford, Massachusetts by studying this loan to a local business, made back in 2004. Banks like Hometown Bank A Co-Operative B may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender HOMETOWN BANK A CO-OPERATIVE B This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453998 - Store Retailers Loan Approval Date 10/28/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Participating Banks in Oxford, Massachusetts
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