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November 24, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Danvers, Business Loans > Danversbank Danvers Business Loans > Full-Service Restaurants Loan | ||||
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Danversbank
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Danversbank SBA Loan to Full-Service Restaurants CompanyDanversbank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Beverly, Massachusetts, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Danversbank, based in Danvers, Massachusetts. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender DANVERSBANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/12/2004 Loan Approval Gross Amount $165,000 Loan Approval from the SBA Of the total $165,000 loan amount, the SBA guaranteed $140,250. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Danversbank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Business Banks in Danvers, Massachusetts
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