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April 20, 2021  
 
 
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Massachusetts Bank SBA Loans

 

 
Loan Census SBA Loan Info

Bay State Savings Bank SBA Loan to Employment Agencies Company

Want a Massachusetts small business loan? Here's one Massachusetts business loan that was approved by the SBA.

This small business needed an SBA business loan in Clinton, Massachusetts back in 2001 and, after submitting their loan application, they were successful in getting an SBA loan from Bay State Savings Bank, operating out of Worcester, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: EMPLOYMENT AGENCIES
CLINTON, MA 01510

SBA Loan Lender

BAY STATE SAVINGS BANK
28-32 FRANKLIN ST
WORCESTER, MA 01608

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7361 - Employment Agencies

NAICS Code

561310 -

Loan Approval Date

1/5/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 50 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

Banks in Worcester, Massachusetts

Massachusetts SBA 7A Lenders