Danversbank SBA Loan to Eating Places Company

Want a Massachusetts small business loan? Here's one Massachusetts business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Wakefield, Massachusetts, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Danversbank, based in Danvers, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WAKEFIELD, MA 01880

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$136,320

Loan Approval from the SBA

Of the total $136,320 loan amount, the SBA guaranteed $102,240.

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 did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $136,320 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Advice on Getting a Small Business Loan

SBA Banks in Danvers, Massachusetts

SBA Lenders in Massachusetts