Salem Five Cents Savings Bank SBA Loan to Home Furnishings Stores Company

An SBA loan from Salem Five Cents Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Boston, Massachusetts business owner got a $170,000 loan.

Getting a small business loan in Boston, Massachusetts was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Salem Five Cents Savings Bank, operating out of Salem, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
BOSTON, MA 02118

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
71 WASHINGTON ST
SALEM, MA 01970

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

442299 - Home Furnishings Stores

Loan Approval Date

6/24/2005

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Boston MA, you ought to talk with a local Boston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Boston 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 $170,000 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:

Choosing VC Firms

SBA Approved Banks in Salem, Massachusetts

Getting an SBA Loan in Massachusetts