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May 10, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Sandwich, Business Loans > The Community Bank Sandwich Business Loans > Eating Places Loan | ||||
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Banks Doing SBA Loans in Massachusetts
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Sandwich, Massachusetts Lender Lends Money to Eating Places CompanyThinking about meeting with a Sandwich, Massachusetts bank about a business loan? Here's one Massachusetts business loan, issued by a Sandwich bank, that was approved by the SBA. Applying for an SBA loan with The Community Bank worked out well for our friends at one local company in South Yarmouth, Massachusetts. They received an SBA loan for $100,000. Way to go! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE COMMUNITY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/2/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Who Lends Money to Small Businesses in Sandwich, Massachusetts
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