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April 25, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Lynn, Business Loans > Eastern Bank Lynn Business Loans > Prepackaged Software Loan | ||||
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Examples of Norwood SBA Loans
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Raising Money for Software PublishersWith these business loans for software publishers, the SBA guarantees the lender that the loan will be repaid. This software publishers loan for $400,000 was given to a Massachusetts entrepreneur in 2002. Getting a small business loan in Norwood, Massachusetts was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Eastern Bank, operating out of Lynn, Massachusetts. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: PREPACKAGED SOFTWARE SBA Loan Lender EASTERN BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7372 - Prepackaged Software NAICS Code 511210 - Software Publishers Loan Approval Date 3/13/2002 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 19 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. We can help you find the best banks for small businesses in Norwood or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Participating Banks in Lynn, Massachusetts
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