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May 11, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Fall River, Business Loans > Bankfive Fall River Business Loans > Flooring Contractors Loan | ||||
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Fall River Bank Loan
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Fall River, Massachusetts Bank Gives SBA Loan to Flooring Contractors CompanyWant to talk with a Fall River, Massachusetts bank about an SBA loan? Here's one Massachusetts business loan, issued by a Fall River bank, that was approved by the SBA. Applying for an SBA loan with Bankfive worked out well for our friends at one local firm in Assonet, Massachusetts. The business was able to get an SBA loan for $100,000. Great job! SBA Loan Borrower COMPANY TYPE: FLOORING CONTRACTORS SBA Loan Lender BANKFIVE This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 238330 - Flooring Contractors Loan Approval Date 3/16/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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 Bankfive 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 Approved Banks in Fall River, Massachusetts
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