Getting an SBA Loan for Computer Storage Device Manufacturing

With these commercial loans for computer storage device manufacturing, the SBA guarantees the lender that the loan will be repaid. This computer storage device manufacturing loan for $200,000 was given to a Massachusetts entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hopkinton, Massachusetts was able to borrow $200,000 from Salem Five Cents Savings Bank. The SBA made the loan possible by guaranteeing $150,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER STORAGE DEVICE MANUFACTURING
HOPKINTON, MA 01748

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
71 WASHINGTON ST
SALEM, MA 01970

This lender provides SBA commercial 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

334112 - Computer Storage Device Manufacturing

Loan Approval Date

12/5/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Strategic Investors

Best Banks in Salem, Massachusetts

SBA Massachusetts Lenders