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May 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Lenox, Business Loans > Legacy Banks Lenox Business Loans > Women's Accessory And Specialty Stores Loan | ||||
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Lenox Lenders
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Entrepreneur Works With Lenox, Massachusetts Bank to Get an SBA LoanGet small business loans from a Lenox, Massachusetts bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Legacy Banks is a Lenox, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Massachusetts company. SBA Loan Borrower COMPANY TYPE: WOMEN'S ACCESSORY AND SPECIALTY STORES SBA Loan Lender LEGACY BANKS This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5632 - Women's Accessory and Specialty Stores NAICS Code 448190 - Clothing Stores Loan Approval Date 9/27/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Legacy Banks had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Legacy Banks made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: The Friends and Family Network SBA Participating Banks in Lenox, Massachusetts
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