Beverly, Massachusetts Bank Gives SBA Loan to Engineering Services Company

Find Beverly, Massachusetts banks that specialize in SBA loans and know how to work with entrepreneurs. Beverly Co-Operative Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Lynnfield (town Of), Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Beverly Co-Operative Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
LYNNFIELD (TOWN OF), MA 01940

SBA Loan Lender

BEVERLY CO-OPERATIVE BANK
254 CABOT ST
BEVERLY, MA 01915

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

541330 - Engineering Services

Loan Approval Date

9/13/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, 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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