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May 14, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Danvers, Business Loans > Danversbank Danvers Business Loans > Local Trucking Without Storage Loan | ||||
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Danvers Bank Loan
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Entrepreneur Works With Danvers, Massachusetts Bank to Get an SBA LoanA Danvers, Massachusetts SBA loan can be yours. Learn how one firm got a $315,000 business loan from this Massachusetts bank. This loan to an entrepreneur is a good example of an SBA loan. Danversbank made the loan and the SBA guaranteed a portion of the loan. Many other Massachusetts entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE SBA Loan Lender DANVERSBANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 4212 - Local Trucking Without Storage NAICS Code 562111 - Solid Waste Collection Loan Approval Date 7/5/2002 Loan Approval Gross Amount $315,000 Loan Approval from the SBA Of the total $315,000 loan amount, the SBA guaranteed $236,250. 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 12 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Where to Get an SBA Loan in Danvers, Massachusetts SBA Participating Banks in Massachusetts
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