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May 11, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Fall River, Business Loans > Bankfive Fall River Business Loans > Florists Loan | ||||
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How to Get SBA Loans in Fall River, Massachusetts
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SBA Loans for FloristsWith these SBA loans for florists, the SBA guarantees the lender that the loan will be repaid. This florists loan for $25,000 was given to a Massachusetts entrepreneur in 2005. Getting a small business loan in Fall River, Massachusetts was important for this business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bankfive, operating out of Fall River, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender BANKFIVE 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 453110 - Florists Loan Approval Date 9/13/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 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 Bankfive 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: A Company That Helps Entrepreneurs SBA Banks in Fall River, Massachusetts
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