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May 9, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Providence, Business Loans > Bank Of America Providence Business Loans > Drafting Services Loan | ||||
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How to Get SBA Loans in Southbridge (town Of), Massachusetts
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Drafting Services LoansWith these loans for drafting services, the SBA guarantees the lender that the loan will be repaid. This drafting services loan for $28,000 was given to a Massachusetts entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Southbridge (town Of), Massachusetts was able to borrow $28,000 from Bank Of America. The SBA made the loan possible by guaranteeing $14,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: DRAFTING SERVICES SBA Loan Lender BANK OF AMERICA 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 541340 - Drafting Services Loan Approval Date 2/18/2004 Loan Approval Gross Amount $28,000 Loan Approval from the SBA Of the total $28,000 loan amount, the SBA guaranteed $14,000. 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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to 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 Bank Of America 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 Bank Loans in Providence, Rhode Island Browse All Business Loan Sources for Rhode Island
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