Middleton, MA Entrepreneur Gets SBA Loan to Buy Crown Trophy Franchise

Need money to buy a Crown Trophy franchise? Danversbank has a history of making these loans and they are guaranteed by the SBA.

If you live near Middleton, Massachusetts and are interested in buying a Crown Trophy franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Danversbank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MURPHY'S AWARDS, INC.
MIDDLETON, MA 01949

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

8/13/2001

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Crown Trophy franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the funding would help generate 2 new jobs.

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

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Danversbank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Crown Trophy

Microlending as a Small Business Funding Source

Banks in Danvers, Massachusetts

SBA Participating Banks in Massachusetts