Business Loans for Porcelain Electrical Supply Manufacturing

With these business loans for porcelain electrical supply manufacturing, the SBA guarantees the lender that the loan will be repaid. This porcelain electrical supply manufacturing loan for $60,000 was given to a Massachusetts entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Winchester, Massachusetts was able to borrow $60,000 from 1st National Bank - Ipswich. The SBA made the loan possible by guaranteeing $51,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: PORCELAIN ELECTRICAL SUPPLIES
WINCHESTER, MA 01890

SBA Loan Lender

1ST NATIONAL BANK - IPSWICH
31 MARKET ST
IPSWICH, MA 01938

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3264 - Porcelain Electrical Supplies

NAICS Code

327113 - Porcelain Electrical Supply Manufacturing

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $60,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Raising Venture Capital

Where to Get an SBA Loan in Ipswich, Massachusetts

Find an SBA Lender in Massachusetts