Massachusetts Small Business Loan Issued to Cutting Tool And Machine Tool Accessory Manufacturing Company
Would a Massachusetts business loan help your company expand? If so, you may want to talk with this Rhode Island bank, which offers SBA loans to Massachusetts entrepreneurs.
Getting a small business loan in Dalton (town Of), Massachusetts was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: CUTTING TOOL AND MACHINE TOOL ACCESSORY MANUFACTURING
DALTON (TOWN OF), MA 01226
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
333515 - Cutting Tool and Machine Tool Accessory Manufacturing
Loan Approval Date
6/30/2004
Loan Approval Gross Amount
$23,500
Loan Approval from the SBA
Of the total $23,500 loan amount, the SBA guaranteed $11,750.
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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide smart, affordable business financing for small businesses looking to expand.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
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Small Business Banks in Providence, Rhode Island
Getting a Business Loan in Rhode Island