Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

Rockland Trust Company Chatham, Massachusetts

 

 
Loan Census SBA Loan Info

SBA Loan from Rockland Trust Company Helps Full-Service Restaurants Company

An SBA loan from Rockland Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chatham, Massachusetts business owner got a $50,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Rockland Trust Company, out of Rockland, Massachusetts. The loan was granted and they received $50,000 to help grow their Chatham, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CHATHAM, MA 02633

SBA Loan Lender

ROCKLAND TRUST COMPANY
288 UNION ST
ROCKLAND, MA 02370

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722110 - Full-Service Restaurants

Loan Approval Date

9/27/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Rockland Trust Company 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:

Business Line of Credit

Where to Get an SBA Loan in Rockland, Massachusetts

SBA Massachusetts Banks