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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 > Family Clothing Stores Loan | ||||
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Getting a Business Loan in Stoneham, Massachusetts
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Growing Company Gets a Massachusetts Small Business LoanMassachusettsBank loans are available to Massachusetts firms through the SBA. In this case, a Rhode Island bank provides the loan. You can learn something about getting a small business loan in Stoneham, Massachusetts by studying this loan to a local company, made back in 2001. Banks like Bank Of America may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender BANK OF AMERICA This lender processed this small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 448140 - Family Clothing Stores Loan Approval Date 9/20/2001 Loan Approval Gross Amount $21,200 Loan Approval from the SBA Of the total $21,200 loan amount, the SBA guaranteed $10,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. 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. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Borrowing Money from Friends and Family Where to Get an SBA Loan in Providence, Rhode Island Getting a Business Loan in Rhode Island
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