The Huntington National Bank Gives Small Business Loan to Industrial And Commercial Machinery And Equipment Company
Want a Massachusetts SBA loan? This Massachusetts entrepreneur got an SBA loan, provided by an Indiana bank that works with the SBA to help small business owners.
Getting a small business loan in Ipswich, Massachusetts was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from The Huntington National Bank. Here are the details on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
IPSWICH, MA 01983
SBA Loan Lender
THE HUNTINGTON NATIONAL BANK
45 N PENNSYLVANIA ST
INDIANAPOLIS, IN 46204
This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3599 - Industrial and Commercial Machinery and Equipment
Loan Approval Date
4/14/2000
Loan Approval Gross Amount
$645,000
Loan Approval from the SBA
Of the total $645,000 loan amount, the SBA guaranteed $516,000.
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 7 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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