SBA Loans for Specialty Food Stores

Looking for SBA loans for specialty food stores? An SBA loan may be just what you've been looking for. This $129,000 specialty food stores loan was issued by a Massachusetts bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Danvers (town Of), Massachusetts was able to borrow $129,000 from Salem Five Cents Savings Bank. The SBA made the loan possible by guaranteeing $109,650 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
DANVERS (TOWN OF), MA 01923

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
210 ESSEX ST
SALEM, MA 01970

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

10/18/2006

Loan Approval Gross Amount

$129,000

Loan Approval from the SBA

Of the total $129,000 loan amount, the SBA guaranteed $109,650.

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 loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Danvers (town Of) or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Salem, Massachusetts Loans

Getting a Business Loan in Massachusetts