Essex (census Name For Essex C, Massachusetts Entrepreneur Gets a Business Loan

Would a Massachusetts business loan help your company expand? If so, you may want to talk with this Massachusetts bank, which offers SBA loans to Massachusetts entrepreneurs.

Getting a small business loan in Essex (census Name For Essex C, Massachusetts was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Boston Private Bank & Trust. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
ESSEX (CENSUS NAME FOR ESSEX C, MA 01929

SBA Loan Lender

BOSTON PRIVATE BANK & TRUST
TEN POST OFFICE SQ
BOSTON, MA 02109

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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

10/21/2005

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $13,500.

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 8 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 Boston Private Bank & Trust 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.

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