Commercial Loans for Services for the Elderly and Persons with Disabilities

With these commercial loans for services for the elderly and persons with disabilities, the SBA guarantees the lender that the loan will be repaid. This services for the elderly and persons with disabilities loan for $29,100 was given to a Massachusetts entrepreneur in 2008.

This small business knew how to go about getting a business bank loan. Based in Lynn, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Sovereign Bank, based in Villanova, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: SERVICES FOR THE ELDERLY AND PERSONS WITH DISABILITIES
LYNN, MA 01901

SBA Loan Lender

SOVEREIGN BANK
2 ALDWYN LN
VILLANOVA, PA 19085

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

624120 - Services for the Elderly and Persons with Disabilities

Loan Approval Date

1/17/2008

Loan Approval Gross Amount

$29,100

Loan Approval from the SBA

Of the total $29,100 loan amount, the SBA guaranteed $14,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 14 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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