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March 29, 2024  
 
 
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Getting a Business Loan in Groton, Massachusetts

 

 
Loan Census SBA Loan Info

Sovereign Bank Gives SBA Loan to Transit And Ground Passenger Transportation Company

Bank loans in Massachusetts are are few and far betweeen these days. We take a look at one Massachusetts bank loan, provided by a Pennsylvania bank, that was approved by the SBA.

You can learn something about getting a small business loan in Groton, Massachusetts by studying this loan to a local company, made back in 2005. Banks like Sovereign Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: TRANSIT AND GROUND PASSENGER TRANSPORTATION
GROTON, MA 01450

SBA Loan Lender

SOVEREIGN BANK
2 ALDWYN LN
VILLANOVA, PA 19085

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

485999 - Transit and Ground Passenger Transportation

Loan Approval Date

5/19/2005

Loan Approval Gross Amount

$18,500

Loan Approval from the SBA

Of the total $18,500 loan amount, the SBA guaranteed $9,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 7 employees. The loan application indicated that the loan would help generate 1 new job and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Financing Your Business

Best Banks in Villanova, Pennsylvania

Getting an SBA Loan in Pennsylvania