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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Ipswich, Business Loans > 1st National Bank - Ipswich Ipswich Business Loans > Direct Selling Establishments Loan | ||||
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Banks Doing SBA Loans in Massachusetts
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Ipswich, Massachusetts Bank Lends Money to Direct Selling Establishments Company in Arlington, MassachusettsThinking about meeting with an Ipswich, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by an Ipswich bank, that was approved by the SBA. Applying for an SBA loan with 1st National Bank - Ipswich worked out well for our friends at one local firm in Arlington, Massachusetts. The business was able to get an SBA loan for $200,000. Sweet! SBA Loan Borrower COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS SBA Loan Lender 1ST NATIONAL BANK - IPSWICH This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 7/1/2005 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 4 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank - Ipswich 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. Related Links: The Friends and Family Network SBA Participating Banks in Ipswich, Massachusetts
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