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May 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > South Weymouth, Business Loans > South Shore Savings Bank South Weymouth Business Loans > Motor Vehicle Towing Loan | ||||
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South Shore Savings Bank Business Loans Weymouth (town Of), MA
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Business Loan from South Shore Savings Bank Given to Motor Vehicle Towing CompanyAn SBA loan from South Shore Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Weymouth (town Of), Massachusetts business owner got a $53,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Weymouth (town Of), Massachusetts was able to borrow $53,000 from South Shore Savings Bank. The SBA made the loan possible by guaranteeing $26,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender SOUTH SHORE SAVINGS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 488410 - Motor Vehicle Towing Loan Approval Date 1/30/2006 Loan Approval Gross Amount $53,000 Loan Approval from the SBA Of the total $53,000 loan amount, the SBA guaranteed $26,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 7A Lenders in South Weymouth, Massachusetts
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