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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 > Radio And Television Repair Shops Loan | ||||
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SBA Lenders for Webster Small Businesses
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Hometown Bank A Co-Operative B Gives Bank Loan to Radio And Television Repair Shops CompanyWould a Massachusetts SBA loan help your business get to the next level? If so, you may want to talk with this Massachusetts bank, which offers SBA loans to Massachusetts entrepreneurs. By giving the right information to Hometown Bank A Co-Operative B, this Webster, Massachusetts business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: RADIO AND TELEVISION REPAIR SHOPS SBA Loan Lender HOMETOWN BANK A CO-OPERATIVE B This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7622 - Radio and Television Repair Shops NAICS Code 811211 - Consumer Electronics Repair and Maintenance Loan Approval Date 5/30/2001 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. 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 2 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Hometown Bank A Co-Operative B are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Banks for Small Business in Oxford, Massachusetts Find an SBA Lender in Massachusetts
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