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April 29, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Somerville, Business Loans > Century Bank And Trust Company Somerville Business Loans > Pump And Pumping Equipment Manufacturing Loan | ||||
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SBA Lenders in Massachusetts
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Small Business Loans for Pump and Pumping Equipment ManufacturingWith these small business loans for pump and pumping equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This pump and pumping equipment manufacturing loan for $300,000 was given to a Massachusetts entrepreneur in 2005. This company knew how to go about getting a business bank loan. Based in Taunton, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Century Bank And Trust Company, based in Somerville, Massachusetts. SBA Loan Borrower COMPANY TYPE: PUMP AND PUMPING EQUIPMENT MANUFACTURING SBA Loan Lender CENTURY BANK AND TRUST COMPANY This lender processed this SBA bank 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 333911 - Pump and Pumping Equipment Manufacturing Loan Approval Date 11/30/2005 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 $300,000 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: Role of Business Plan When Raising Money SBA Participating Banks in Somerville, Massachusetts
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