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April 18, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Somerville, Business Loans > Century Bank And Trust Company Somerville Business Loans > Data Processing, Hosting, And Related Services Loan | ||||
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Massachusetts Small Business Funding
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Data Processing, Hosting, and Related Services LoansLooking for loans for data processing, hosting, and related services? Try the SBA. This $100,000 data processing, hosting, and related services loan was issued by a Massachusetts bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Malden, Massachusetts was able to borrow $100,000 from Century Bank And Trust Company. The SBA made the loan possible by guaranteeing $50,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: DATA PROCESSING, HOSTING, AND RELATED SERVICES SBA Loan Lender CENTURY BANK AND TRUST COMPANY This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 518210 - Data Processing, Hosting, and Related Services Loan Approval Date 1/6/2006 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 8 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 8 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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, if it to be, it is up to me! 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: SBA Participating Banks in Somerville, Massachusetts
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