Springfield, Massachusetts Bank Gives SBA Loan to Grocery And Related Products Merchant Wholesalers Company
A Springfield, Massachusetts business loan can be yours. Learn how a business got a $473,700 business loan from this Massachusetts bank.
This loan to an entrepreneur is a good example of an SBA loan. Bank - Western Massachusetts made the loan and the SBA guaranteed a portion of the loan. Many other Massachusetts entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: GROCERY AND RELATED PRODUCTS MERCHANT WHOLESALERS
GREENFIELD, MA 01301
SBA Loan Lender
BANK - WESTERN MASSACHUSETTS
1391 MAIN ST, 3RD FL
SPRINGFIELD, MA 01103
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
424490 - Grocery and Related Products Merchant Wholesalers
Loan Approval Date
5/4/2005
Loan Approval Gross Amount
$473,700
Loan Approval from the SBA
Of the total $473,700 loan amount, the SBA guaranteed $355,275.
More Information on This SBA Loan
The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 21 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
Business Incubators
SBA Approved Banks in Springfield, Massachusetts
Getting a Business Loan in Massachusetts