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May 17, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > West Springfield, Business Loans > Newalliance Bank West Springfield Business Loans > Precision Turned Product Manufacturing Loan | ||||
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West Springfield, Massachusetts Bank for SBA Loans
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West Springfield, Massachusetts Bank Gives SBA Loan to Precision Turned Product Manufacturing CompanyA West Springfield, Massachusetts SBA loan can be yours. Learn how a company got a $1,001,000 business loan from this Massachusetts bank. This loan to a local firm is a good example of an SBA loan. Newalliance Bank made the loan and the SBA guaranteed a portion of the loan. Many other Massachusetts entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: PRECISION TURNED PRODUCT MANUFACTURING SBA Loan Lender NEWALLIANCE BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332721 - Precision Turned Product Manufacturing Loan Approval Date 11/1/2006 Loan Approval Gross Amount $1,001,000 Loan Approval from the SBA Of the total $1,001,000 loan amount, the SBA guaranteed $750,750. 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 24 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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 important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Newalliance Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Newalliance Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Banks for West Springfield, Massachusetts Loans
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