The Huntington National Bank Gives Small Business Loan to Industrial And Commercial Machinery And Equipment Company

Want a Massachusetts SBA loan? This Massachusetts entrepreneur got an SBA loan, provided by an Indiana bank that works with the SBA to help small business owners.

Getting a small business loan in Ipswich, Massachusetts was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
IPSWICH, MA 01983

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
45 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3599 - Industrial and Commercial Machinery and Equipment

Loan Approval Date

4/14/2000

Loan Approval Gross Amount

$645,000

Loan Approval from the SBA

Of the total $645,000 loan amount, the SBA guaranteed $516,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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