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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > South Weymouth, Business Loans > South Shore Savings Bank South Weymouth Business Loans > Dentists Loan | ||||
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Raising Money in Hingham, Massachusetts With SBA Loans
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Loans for DentistsWith these loans for dentists, the SBA guarantees the lender that the loan will be repaid. This dentists loan for $50,000 was given to a Massachusetts entrepreneur in 2004. This small firm knew how to go about getting a business bank loan. Based in Hingham, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was South Shore Savings Bank, based in South Weymouth, Massachusetts. SBA Loan Borrower COMPANY TYPE: DENTISTS SBA Loan Lender SOUTH SHORE SAVINGS BANK The lender provided this bank 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 621210 - Dentists Loan Approval Date 10/18/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 retain 1 existing job. Getting an SBA Loan For Your Business If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great funding source 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 South Shore Savings Bank 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. Related Links: Best Banks in South Weymouth, Massachusetts
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