Massachusetts Entrepreneur Secures Financing to Buy Cardsmart Franchise

Need money to purchase a Cardsmart franchise? Danversbank has a history of making these loans and they are guaranteed by the SBA.

If you live near Beverly, Massachusetts and are interested in buying a Cardsmart franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Danversbank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

JUDITH FOWLER AND JOHN FOWLER
BEVERLY, MA 01915

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

8/17/2004

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cardsmart franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Beverly MA, you ought to talk with a local Beverly SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Beverly 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 $180,000 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:

Cardsmart Retail Corporation

Alternative Financing

SBA Participating Banks in Danvers, Massachusetts

Getting an SBA Loan in Massachusetts