Loan Census Banking News and Information
February 4, 2023  
 
 
  Business Loan Information  
 

Examples of New Bedford SBA Loans

 

 
Loan Census SBA Loan Info

Loans for Marinas

With these loans for marinas, the SBA guarantees the lender that the loan will be repaid. This marinas loan for $180,000 was given to a Massachusetts entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Bedford, Massachusetts was able to borrow $180,000 from Slade's Ferry Trust Company. The SBA made the loan possible by guaranteeing $135,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: MARINAS
NEW BEDFORD, MA 02744

SBA Loan Lender

SLADE'S FERRY TRUST COMPANY
75 HUTTLESTON AVE
FAIRHAVEN, MA 02719

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4493 - Marinas

NAICS Code

713930 - Marinas

Loan Approval Date

4/12/2000

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

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 documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in New Bedford or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

How Equity Dilution Works

SBA 7A Lenders in Fairhaven, Massachusetts

Massachusetts SBA Bank Lenders