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May 18, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Quincy, Business Loans > Bank Of America Quincy Business Loans > Piece Goods, Notions, And Other Dry Goods Loan | ||||
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Massachusetts Bank SBA Loans
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Bank Of America SBA Loan to Piece Goods, Notions, And Other Dry Goods CompanyLooking to get a Massachusetts small business loan? Here's one Massachusetts business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Brockton, Massachusetts was able to borrow $750,000 from Bank Of America. The SBA made the loan possible by guaranteeing $562,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: PIECE GOODS, NOTIONS, AND OTHER DRY GOODS SBA Loan Lender BANK OF AMERICA SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5131 - Piece Goods, Notions, and Other Dry Goods Loan Approval Date 4/28/2000 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. 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 38 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Bank Of America 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: Who Lends Money to Small Businesses in Quincy, Massachusetts Getting an SBA Loan in Massachusetts
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