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April 18, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Warwick, Business Loans > Home Loan Invest Bank F.S.B. Warwick Business Loans > Insurance Agencies And Brokerages Loan | ||||
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Banks for Fitchburg, Massachusetts Small Business Owners
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Insurance Agencies and Brokerages LoansWith these loans for insurance agencies and brokerages, the SBA guarantees the lender that the loan will be repaid. This insurance agencies and brokerages loan for $145,000 was given to a Massachusetts entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fitchburg, Massachusetts was able to borrow $145,000 from Home Loan Invest Bank F.S.B.. The SBA made the loan possible by guaranteeing $123,250 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender HOME LOAN INVEST BANK F.S.B. This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 12/1/2005 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $123,250. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business If you are wondering how to raise money for a company in Fitchburg MA, you ought to talk with a local Fitchburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fitchburg businesses. 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 Home Loan Invest Bank F.S.B. 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. Related Links: Banking Deregulation's Effects on Entrepreneurship SBA 7A Lenders in Warwick, Rhode Island
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