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April 20, 2021  
 
 
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How to Get a Loan for Basic Organic Chemical Manufacturing

Looking for business loans for basic organic chemical manufacturing? The SBA may be the answer. This $350,000 basic organic chemical manufacturing loan was issued by a Massachusetts bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hopkinton, Massachusetts was able to borrow $350,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $175,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BASIC ORGANIC CHEMICAL MANUFACTURING
HOPKINTON, MA 01748

SBA Loan Lender

RBS CITIZENS
28 STATE ST
BOSTON, MA 02109

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

325199 - Basic Organic Chemical Manufacturing

Loan Approval Date

1/27/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 18 employees. The SBA loan application for the borrower indicated that the loan would help retain 18 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Rbs Citizens 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:

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Where to Get an SBA Loan in Boston, Massachusetts

Getting an SBA Loan in Massachusetts