Ipswich (census Name For Ipswi, MA Entrepreneur Gets SBA Loan to Buy Mail Boxes Etc. Usa Franchise

Borrowing money to buy a Mail Boxes Etc. Usa franchise? Danversbank has a history of making these loans and they are guaranteed by the SBA.

Mail Boxes Etc. Usa franchise loans are available to Ipswich (census Name For Ipswi, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Danversbank, based in Danvers, Massachusetts, issued an SBA franchise loan for a Mail Boxes Etc. Usa franchise in 2004. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

THE UPS STORE
IPSWICH (CENSUS NAME FOR IPSWI, MA 01930

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

561910 - Packaging and Labeling Services

Loan Approval Date

10/21/2004

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mail Boxes Etc. Usa franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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