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May 11, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Fall River, Business Loans > Bankfive Fall River Business Loans > Snack And Nonalcoholic Beverage Bars Loan | ||||
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Bankfive Small Business Loan
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Where to Get Capital for Snack and Nonalcoholic Beverage BarsWith these SBA loans for snack and nonalcoholic beverage bars, the SBA guarantees the lender that the loan will be repaid. This snack and nonalcoholic beverage bars loan for $40,000 was given to a Massachusetts entrepreneur in 2005. Getting a small business loan in Somerset, Massachusetts was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bankfive, operating out of Fall River, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS SBA Loan Lender BANKFIVE This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 1/13/2005 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 an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bankfive and they will explain how you can get an SBA loan for your company. 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 Business Banks in Fall River, Massachusetts
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