Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Newton, Massachusetts Bank Loan

 

 
Loan Census SBA Loan Info

Family Clothing Stores Bank Loans

With these bank loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $150,000 was given to a Massachusetts entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newton, Massachusetts was able to borrow $150,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $75,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
NEWTON, MA 02549

SBA Loan Lender

RBS CITIZENS
28 STATE ST
BOSTON, MA 02109

This SBA loan 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

448140 - Family Clothing Stores

Loan Approval Date

7/10/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Newton 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:

The Art of Bootstrapping

Small Bank Loans in Boston, Massachusetts

SBA Participating Banks in Massachusetts