Entrepreneur Works With Danvers, Massachusetts Bank to Get an SBA Loan

Get to know Danvers, Massachusetts banks that specialize in small business loans and know how to work with entrepreneurs. Danversbank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Burlington, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Danversbank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
BURLINGTON, MA 01803

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7379 - Computer Related Services

Loan Approval Date

6/21/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Burlington MA, you ought to talk with a local Burlington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Burlington businesses.

While you may be able to find business people willing to loan money, 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.

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