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May 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Danvers, Business Loans > Danversbank Danvers Business Loans > Fitness And Recreational Sports Centers Loan | ||||
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Danversbank
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Business Loan from Danversbank Given to Fitness And Recreational Sports Centers CompanyDanversbank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Norfolk, Massachusetts, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Danversbank, based in Danvers, Massachusetts. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS 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 713940 - Fitness and Recreational Sports Centers Loan Approval Date 6/10/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs. Next Steps for Getting an SBA Loan If you need business start up money in Norfolk MA, you ought to talk with a local Norfolk SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norfolk businesses. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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: Obtaining Funding - Friends and Family Small Bank Loans in Danvers, Massachusetts Getting an SBA Loan in Massachusetts
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