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May 17, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Somerset, Business Loans > Slade's Ferry Bank Somerset Business Loans > Truck Rental And Leasing, Without Drivers Loan | ||||
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Slade's Ferry Bank Business Loans
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Slade's Ferry Bank SBA Loan to Truck Rental And Leasing, Without Drivers CompanySlade's Ferry Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Swansea, Massachusetts was able to borrow $117,000 from Slade's Ferry Bank. The SBA made the loan possible by guaranteeing $99,450 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: TRUCK RENTAL AND LEASING, WITHOUT DRIVERS SBA Loan Lender SLADE'S FERRY BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7513 - Truck Rental and Leasing, Without Drivers NAICS Code 532120 - Truck, Utility Trailer, and RV Rental and Leasing Loan Approval Date 8/13/2003 Loan Approval Gross Amount $117,000 Loan Approval from the SBA Of the total $117,000 loan amount, the SBA guaranteed $99,450. More Information on This SBA Loan The borrower borrowed this money for an existing 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 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Slade's Ferry Bank 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: Obtaining Funding - How to Decide How Much to Raise Best Somerset, Massachusetts Banks for Small Business Getting an SBA Loan in Massachusetts
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