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May 10, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Wakefield, Business Loans > Massachusetts Business Wakefield Business Loans > Transportation Equipment Loan | ||||
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Who Lends Money to Shirley (census Name For Shirl Entrepreneurs
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Massachusetts Business Gives Business Loan to Transportation Equipment CompanyMassachusettsSmall business loans are available to Massachusetts small business owners through the SBA. In this case, a Massachusetts bank provides the loan. This business, based in Shirley (census Name For Shirl, Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Massachusetts Business. We've got the inside scoop on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: TRANSPORTATION EQUIPMENT SBA Loan Lender MASSACHUSETTS BUSINESS Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3799 - Transportation Equipment NAICS Code 336999 - Transportation Equipment Manufacturing Loan Approval Date 8/15/2000 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 19 employees. The loan application indicated that the loan would help retain 19 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to borrow money from friends and family, 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. Related Links: Dealing With Venture Capitalists Small Business Banks in Wakefield, Massachusetts
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