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May 8, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Peabody, Business Loans > North Shore Bank A Cooperative Peabody Business Loans > Chiropractors Loan | ||||
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North Shore Bank A Cooperative
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North Shore Bank A Cooperative SBA Loan to Chiropractors CompanyNorth Shore Bank A Cooperative 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Danvers (town Of), Massachusetts was able to borrow $215,000 from North Shore Bank A Cooperative. The SBA made the loan possible by guaranteeing $107,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender NORTH SHORE BANK A COOPERATIVE The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 621310 - Chiropractors Loan Approval Date 2/14/2005 Loan Approval Gross Amount $215,000 Loan Approval from the SBA Of the total $215,000 loan amount, the SBA guaranteed $107,500. 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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like North Shore Bank A Cooperative that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA 7A Banks for Peabody, Massachusetts Loans
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