Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

We Needed a Business Loan in Easthampton, Massachusetts and We Got One!

 

 
Loan Census SBA Loan Info

Business Loans for General Freight Trucking, Local

With these business loans for general freight trucking, local, the SBA guarantees the lender that the loan will be repaid. This general freight trucking, local loan for $10,000 was given to a Massachusetts entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of America, out of Providence, Rhode Island. The loan was granted and they received $10,000 to help grow their Easthampton, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL
EASTHAMPTON, MA 01027

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

484110 - General Freight Trucking, Local

Loan Approval Date

5/10/2002

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Role of Business Plan When Raising Money

Find an SBA Lender in Providence, Rhode Island

Where to Get an SBA Loan Rhode Island