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May 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Greenfield, Business Loans > Greenfield Co-Operative Bank Greenfield Business Loans > Limited-Service Restaurants Loan | ||||
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Turners Falls, Massachusetts Bank for SBA Loans
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Turners Falls, Massachusetts Entrepreneur Gets a Bank LoanLooking to get 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. Getting a small business loan in Turners Falls, Massachusetts was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Greenfield Co-Operative Bank. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender GREENFIELD CO-OPERATIVE BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/9/2005 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. While you may be able to find other ways to get money to start a business, 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: Small Bank Loans in Greenfield, Massachusetts
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