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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Beverly, Business Loans > Beverly Co-Operative Bank Beverly Business Loans > Shoe Stores Loan | ||||
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Massachusetts SBA 7A Lenders
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Beverly, Massachusetts Lender Lends Money to Shoe Stores CompanyGet to know Beverly, Massachusetts banks that specialize in small business loans and know how to work with entrepreneurs. Beverly Co-Operative Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Beverly Farms, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Beverly Co-Operative Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SHOE STORES SBA Loan Lender BEVERLY CO-OPERATIVE BANK This lender issued this particular commercial 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. NAICS Code 448210 - Shoe Stores Loan Approval Date 7/15/2005 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. 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 only one employee. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Accountant's Role in Securing Financing SBA 7A Banks for Beverly, Massachusetts Loans
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