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April 19, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Rbs Citizens Boston Business Loans > Metal Service Centers And Metal Merchant Wholesalers Loan | ||||
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I Need a Small Business Loan in New Bedford, Massachusetts
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Metal Service Centers and Metal Merchant Wholesalers Small Business LoansLooking for small business loans for metal service centers and metal merchant wholesalers? Try the SBA. This $35,000 metal service centers and metal merchant wholesalers loan was issued by a Massachusetts bank. This small firm knew how to go about getting a business bank loan. Based in New Bedford, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Rbs Citizens, based in Boston, Massachusetts. SBA Loan Borrower COMPANY TYPE: METAL SERVICE CENTERS AND METAL MERCHANT WHOLESALERS SBA Loan Lender RBS CITIZENS The lender provided this commercial 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 423510 - Metal Service Centers and Metal Merchant Wholesalers Loan Approval Date 2/19/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan 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. 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: Small Bank Loans in Boston, Massachusetts
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