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April 23, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Dorchester, Business Loans > Sovereign Bank Dorchester Business Loans > Children's And Infants' Clothing Stores Loan | ||||
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Dorchester Lenders
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Dorchester, Massachusetts Lender Lends Money to Children's And Infants' Clothing Stores CompanyWant to talk with a Dorchester, Massachusetts bank about a business loan? Here's one Massachusetts business loan, issued by a Dorchester bank, that was approved by the SBA. Applying for an SBA loan with Sovereign Bank worked out well for our friends at one local company in Pocasset, Massachusetts. The business was able to get an SBA loan for $40,000. Nice! SBA Loan Borrower COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES SBA Loan Lender SOVEREIGN BANK The lender provided this small business 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 448130 - Children's and Infants' Clothing Stores Loan Approval Date 10/25/2004 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sovereign Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 7A Lenders in Dorchester, Massachusetts
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