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November 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Salem, Business Loans > Salem Five Cents Savings Bank Salem Business Loans > Engineering Services Loan | ||||
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SBA Lender Salem
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Salem, Massachusetts Bank Lends Money to Engineering Services Company in Lincoln, MassachusettsThinking about meeting with a Salem, Massachusetts bank about an SBA loan? Here's one Massachusetts business loan, issued by a Salem bank, that was approved by the SBA. Applying for an SBA loan with Salem Five Cents Savings Bank worked out well for our friends at one local firm in Lincoln, Massachusetts. The business was able to get an SBA loan for $50,000. Nice! SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender SALEM FIVE CENTS SAVINGS BANK 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 541330 - Engineering Services Loan Approval Date 8/3/2005 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Find an SBA Lender in Salem, Massachusetts Massachusetts SBA Bank Lenders
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