Business Loan from Stoneham Savings Bank Given to Eating Places Company

An SBA loan from Stoneham Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Stoneham, Massachusetts business owner got a $91,500 loan.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Stoneham Savings Bank, out of Stoneham, Massachusetts. The loan was granted and they received $91,500 to help grow their Stoneham, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
STONEHAM, MA 02180

SBA Loan Lender

STONEHAM SAVINGS BANK
359 MAIN ST
STONEHAM, MA 02180

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/9/2001

Loan Approval Gross Amount

$91,500

Loan Approval from the SBA

Of the total $91,500 loan amount, the SBA guaranteed $77,775.

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 16 employees. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We can help you find the best banks for small businesses in Stoneham or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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