Massachusetts Small Business Loan Issued to Full-Service Restaurants Company

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

You can learn something about getting a small business loan in Chatham (census Name For Chath, Massachusetts by studying this loan to a local business, made back in 2005. Banks like Salem Five Cents Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CHATHAM (CENSUS NAME FOR CHATH, MA 02633

SBA Loan Lender

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

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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/30/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the funding would help generate 12 new jobs.

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

If you want money for new small business in Chatham (census Name For Chath MA, you ought to talk with a local Chatham (census Name For Chath SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chatham (census Name For Chath businesses.

This SBA loan was for $80,000. How would you spend $80,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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