Danvers (town Of), Massachusetts Business Gets SBA-Guaranteed Funding from Danversbank

An SBA loan from Danversbank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Danvers (town Of), Massachusetts business owner got a $110,000 loan.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Danversbank, out of Danvers, Massachusetts. The loan was granted and they received $110,000 to help grow their Danvers (town Of), Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
DANVERS (TOWN OF), MA 01923

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

This lender provides SBA commercial 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

448150 - Clothing Accessories Stores

Loan Approval Date

10/10/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Danversbank and they will explain how you can get an SBA loan for your company.

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:

Microlending as a Small Business Funding Source

Small Business Banks in Danvers, Massachusetts

Getting an SBA Loan in Massachusetts