Massachusetts Bank Loan Issued to Supermarkets And Grocery Stores Company
SBA loans in Massachusetts are hard to find these days. We take a look at one Massachusetts SBA loan, provided by a New Jersey bank, that was approved by the SBA.
You can learn something about getting a small business loan in West Springfield (town Of), Massachusetts by studying this loan to a local business, made back in 2004. Banks like Cit Small Business Lending Corp may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
WEST SPRINGFIELD (TOWN OF), MA 01089
SBA Loan Lender
CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039
This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
10/4/2004
Loan Approval Gross Amount
$400,000
Loan Approval from the SBA
Of the total $400,000 loan amount, the SBA guaranteed $300,000.
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 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit Small Business Lending Corp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit Small Business Lending Corp 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:
Obtaining Funding - How to Decide How Much to Raise
SBA Approved Banks in Livingston, New Jersey
SBA New Jersey Banks