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May 4, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Weymouth, Business Loans > South Shore Co-Operative Bank Weymouth Business Loans > Machine Shops Loan | ||||
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Lakewood, Massachusetts Bank for SBA Loans
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Company Gets a Massachusetts Bank LoanMassachusettsSBA loans are available to Massachusetts entrepreneurs through the SBA. In this case, a Massachusetts bank provides the loan. Getting a small business loan in Lakewood, Massachusetts was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from South Shore Co-Operative Bank. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender SOUTH SHORE CO-OPERATIVE BANK 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 332710 - Machine Shops Loan Approval Date 12/1/2006 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. 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 15 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Lakewood or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding From a Venture Capitalist Small Business Banks in Weymouth, Massachusetts
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