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April 19, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Danvers, Business Loans > Danversbank Danvers Business Loans > Engineering Services Loan | ||||
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SBA Lenders in Lowell
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Danversbank SBA Loan to Engineering Services CompanyDanversbank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Lowell, Massachusetts, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Danversbank, based in Danvers, Massachusetts. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender DANVERSBANK 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 541330 - Engineering Services Loan Approval Date 12/17/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Danversbank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Banks for Small Business in Danvers, Massachusetts
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