Company Gets a Massachusetts SBA Loan
Would a Massachusetts SBA loan help your business get to the next level? If so, you may want to talk with this Massachusetts bank, which offers SBA loans to Massachusetts entrepreneurs.
This company, based in Salem, Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Beverly Co-Operative Bank. We've got the inside scoop on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
SALEM, MA 01970
SBA Loan Lender
BEVERLY CO-OPERATIVE BANK
254 CABOT ST
BEVERLY, MA 01915
This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
561310 -
Loan Approval Date
7/24/2006
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.
Start the Process for Getting an SBA Loan Today!
Every year, the SBA guarantees over $10 billion for loans just like this one.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Beverly Co-Operative Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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.
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