Spencer Savings Bank Gives Small Business Loan to Commercial Bakeries Company
Searching for a Massachusetts small business loan? This Massachusetts entrepreneur got a small business loan, provided by a Massachusetts bank that works with the SBA to help small business owners.
Getting a small business loan in Fitchburg, Massachusetts was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Spencer Savings Bank. Here are the details on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: COMMERCIAL BAKERIES
FITCHBURG, MA 01420
SBA Loan Lender
SPENCER SAVINGS BANK
176 MAIN ST
SPENCER, MA 01562
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.
311812 - Commercial Bakeries
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $15,000 loan amount, the SBA guaranteed $7,500.
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. This SBA loan request indicated that the loan would help retain 8 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Spencer Savings Bank and they will explain how you can get an SBA loan for your company.
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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