Hometown Bank A Co-Operative B Gives Small Business Loan to Refuse Systems Company

MassachusettsBank loans are available to Massachusetts firms through the SBA. In this case, a Massachusetts bank provides the loan.

You can learn something about getting a small business loan in Readville, Massachusetts by studying this loan to a local company, made back in 2002. 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: REFUSE SYSTEMS
READVILLE, MA 02136

SBA Loan Lender

HOMETOWN BANK A CO-OPERATIVE B
31 SUTTON AVE
OXFORD, MA 01540

This lender issued this particular SBA 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

4953 - Refuse Systems

NAICS Code

562212 - Solid Waste Landfill

Loan Approval Date

4/3/2002

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $88,400.

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 15 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need business start up money in Readville MA, you ought to talk with a local Readville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Readville businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Hometown Bank A Co-Operative B and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

SBA 7A Banks in Oxford, Massachusetts

Getting an SBA Loan in Massachusetts