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May 5, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Westfield, Business Loans > Westfield Bank Westfield Business Loans > Management Services Loan | ||||
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Massachusetts Bank SBA Loans
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Westfield Bank SBA Loan to Management Services CompanyWant a Massachusetts small business loan? Here's one Massachusetts business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springfield, Massachusetts was able to borrow $90,000 from Westfield Bank. The SBA made the loan possible by guaranteeing $72,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: MANAGEMENT SERVICES SBA Loan Lender WESTFIELD BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8741 - Management Services Loan Approval Date 2/8/2000 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $72,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 7 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Realistic Debt Financing Options SBA Approved Banks in Westfield, Massachusetts
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