Growing Company Gets a Massachusetts Business Loan

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

By giving the right information to South Shore Co-Operative Bank, this Hanson (rr Name South Hanson), Massachusetts business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: STRUCTURAL STEEL AND PRECAST CONCRETE CONTRACTORS
HANSON (RR NAME SOUTH HANSON), MA 02341

SBA Loan Lender

SOUTH SHORE CO-OPERATIVE BANK
195 WASHINGTON ST
WEYMOUTH, MA 02188

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

238120 - Structural Steel and Precast Concrete Contractors

Loan Approval Date

3/21/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 6 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Hanson (rr Name South Hanson) MA, you ought to talk with a local Hanson (rr Name South Hanson) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hanson (rr Name South Hanson) businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, anyone can do it... so why not you?

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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