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April 25, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Worcester, Business Loans > Bay State Savings Bank Worcester Business Loans > Vocational Rehabilitation Services Loan | ||||
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Raising Money in Fall River, Massachusetts With SBA Loans
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Vocational Rehabilitation Services Business LoansWith these business loans for vocational rehabilitation services, the SBA guarantees the lender that the loan will be repaid. This vocational rehabilitation services loan for $510,000 was given to a Massachusetts entrepreneur in 2007. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bay State Savings Bank, out of Worcester, Massachusetts. The loan was granted and they received $510,000 to help grow their Fall River, Massachusetts business. SBA Loan Borrower COMPANY TYPE: VOCATIONAL REHABILITATION SERVICES SBA Loan Lender BAY STATE SAVINGS BANK This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 624310 - Vocational Rehabilitation Services Loan Approval Date 7/3/2007 Loan Approval Gross Amount $510,000 Loan Approval from the SBA Of the total $510,000 loan amount, the SBA guaranteed $382,500. 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 125 employees. The SBA loan documents indicated that the loan would help generate 20 new jobs and retain 105 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $510,000. How would you spend $510,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Bank Loans in Worcester, Massachusetts
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