Massachusetts Business Loan Issued to Home Health Care Services Company

Looking to get a Massachusetts small business loan? This Massachusetts entrepreneur got a small business 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 Danvers (town Of), Massachusetts by studying this loan to a local company, made back in 2005. Banks like Danversbank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
DANVERS (TOWN OF), MA 01923

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

621610 - Home Health Care Services

Loan Approval Date

9/21/2005

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

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 45 employees. This SBA loan request indicated that the loan would help retain 45 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Danversbank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Danversbank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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