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| Entrepreneur Resources | Independence Bank East Greenwich Business Loans | ||||
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Lexington Small Business Loans from Independence Bank
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Business Loan from Independence Bank Given to Lexington MobilAn SBA loan from Independence Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lexington, Massachusetts business owner got a $525,000 loan.
Lexington Mobil knew how to go about getting a business bank loan. Based in Lexington, Massachusetts, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Independence Bank, based in East Greenwich, Rhode Island. SBA Loan Borrower LEXINGTON MOBIL SBA Loan Lender INDEPENDENCE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 5/25/2005 Loan Approval Gross Amount $525,000 Loan Approval from the SBA Of the total $525,000 loan amount, the SBA guaranteed $393,750. More Information on This SBA Loan The borrower, Lexington Mobil, borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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 Lexington Mobil walked into Independence Bank and applied for an SBA loan, you have to do the same thing. The sooner you start, the faster you'll get the money! About This SBA Loan Information: All SBA loan data displayed above comes from the government's SBA loan database. Related Links: Find an SBA Lender in East Greenwich, Rhode Island Where to Get an SBA Loan Rhode Island If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.
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