SBA Loan from Rbs Citizens Helps Corporate Cafe

Rbs Citizens and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level.

Corporate Cafe received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Rbs Citizens, out of Boston, Massachusetts. The loan was granted and they received $25,000 to help grow their Lexington, Massachusetts business.

SBA Loan Borrower

CORPORATE CAFE
10 MARQUIRES ROAD
LEXINGTON, MA 02421

SBA Loan Lender

RBS CITIZENS
28 STATE ST
BOSTON, MA 02109

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722310 - Food Service Contractors

Loan Approval Date

11/19/2002

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower, Corporate Cafe, borrowed this money for an existing business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs. This loan was paid in full, and was closed out on 12/30/2004.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Corporate Cafe needed a loan. Rbs Citizens probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Rbs Citizens made the loan. The end result was that Corporate Cafe 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 SBA loan database.

Related Links:

Obtaining Funding - Friends and Family

Where to Get an SBA Loan in Boston, Massachusetts

Where to Get an SBA Loan Massachusetts

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