Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System Loans

With these loans for search, detection, navigation, guidance, aeronautical, and nautical system, the SBA guarantees the lender that the loan will be repaid. This search, detection, navigation, guidance, aeronautical, and nautical system loan for $320,000 was given to a Massachusetts entrepreneur in 2000.

Getting a small business loan in Littleton, Massachusetts was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank, operating out of Boston, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: AERONAUTICAL AND NAUTICAL SEARCH AND NAVIGATION
LITTLETON, MA 01460

SBA Loan Lender

SOVEREIGN BANK
75 STATE ST
BOSTON, MA 02109

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3812 - Aeronautical and Nautical Search and Navigation

NAICS Code

334511 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System

Loan Approval Date

3/28/2000

Loan Approval Gross Amount

$320,000

Loan Approval from the SBA

Of the total $320,000 loan amount, the SBA guaranteed $240,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 40 employees. The SBA loan application for the borrower indicated that the loan would help retain 40 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $320,000 loan. Remember, if it to be, it is up to me!

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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