Commercial Loans for Industrial Machinery and Equipment Merchant Wholesalers
With these commercial loans for industrial machinery and equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial machinery and equipment merchant wholesalers loan for $70,000 was given to a Massachusetts entrepreneur in 2007.
This small business knew how to go about getting a business bank loan. Based in Scituate (census Name For Scit, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Rockland Trust Company, based in Rockland, Massachusetts.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS
SCITUATE (CENSUS NAME FOR SCIT, MA 02066
SBA Loan Lender
ROCKLAND TRUST COMPANY
288 UNION ST
ROCKLAND, MA 02370
This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
423830 - Industrial Machinery and Equipment Merchant Wholesalers
Loan Approval Date
5/25/2007
Loan Approval Gross Amount
$70,000
Loan Approval from the SBA
Of the total $70,000 loan amount, the SBA guaranteed $35,000.
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 2 employees. The SBA loan documents indicated that the funding would help generate 2 new jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.
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.
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