Danvers, Massachusetts Bank Gives SBA Loan to Elevator And Moving Stairway Manufacturing Company

Get SBA loans from a Danvers, Massachusetts bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Danversbank is a Danvers, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Massachusetts company.

SBA Loan Borrower

COMPANY TYPE: ELEVATOR AND MOVING STAIRWAY MANUFACTURING
CHELSEA, MA 02150

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333921 - Elevator and Moving Stairway Manufacturing

Loan Approval Date

4/14/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 17 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Danversbank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Banks in Danvers, Massachusetts

SBA Participating Banks in Massachusetts