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May 3, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Warwick, Business Loans > Home Loan Invest Bank F.S.B. Warwick Business Loans > Musical Instruments Loan | ||||
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How Hard Is It to Get a Small Business Loan in Boston, Massachusetts?
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Getting an SBA Loan for Musical Instrument ManufacturingLooking for business loans for musical instrument manufacturing? The SBA may be the answer. This $220,000 musical instrument manufacturing loan was issued by a Rhode Island bank. This business knew how to go about getting a business bank loan. Based in Boston, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Home Loan Invest Bank F.S.B., based in Warwick, Rhode Island. SBA Loan Borrower COMPANY TYPE: MUSICAL INSTRUMENTS SBA Loan Lender HOME LOAN INVEST BANK F.S.B. This commercial loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3931 - Musical Instruments NAICS Code 339992 - Musical Instrument Manufacturing Loan Approval Date 8/28/2000 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $165,000. 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 15 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $220,000. How would you spend $220,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Banks in Warwick, Rhode Island
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