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November 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Orleans, Business Loans > Sovereign Bank Orleans Business Loans > Boat Dealers Loan | ||||
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Massachusetts SBA Lenders
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Orleans, Massachusetts Lender Lends Money to Boat Dealers CompanyThinking about meeting with an Orleans, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by an Orleans bank, that was approved by the SBA. Applying for an SBA loan with Sovereign Bank worked out well for our friends at one local company in Harwichport, Massachusetts. They received an SBA loan for $475,000. Great job! SBA Loan Borrower COMPANY TYPE: BOAT DEALERS SBA Loan Lender SOVEREIGN BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5551 - Boat Dealers NAICS Code 441222 - Boat Dealers Loan Approval Date 3/10/2000 Loan Approval Gross Amount $475,000 Loan Approval from the SBA Of the total $475,000 loan amount, the SBA guaranteed $356,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Sovereign Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Realistic Debt Financing Options Where to Get an SBA Loan in Orleans, Massachusetts
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