Loans for Fresh and Frozen Seafood Processing

With these loans for fresh and frozen seafood processing, the SBA guarantees the lender that the loan will be repaid. This fresh and frozen seafood processing loan for $260,000 was given to a Massachusetts entrepreneur in 2000.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Td Banknorth, out of Gloucester, Massachusetts. The loan was granted and they received $260,000 to help grow their Gloucester, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: PREPARED FRESH OR FROZEN FISH AND SEAFOODS
GLOUCESTER, MA 01930

SBA Loan Lender

TD BANKNORTH
2 HARBOR LOOP
GLOUCESTER, MA 01930

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2092 - Prepared Fresh or Frozen Fish and Seafoods

NAICS Code

311712 - Fresh and Frozen Seafood Processing

Loan Approval Date

11/24/2000

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $234,000.

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 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Obtaining Funding - Getting Venture Capital

Small Business Banks in Gloucester, Massachusetts

Getting a Business Loan in Massachusetts