Business Loan from Danversbank Given to Children's And Infants' Clothing Stores Company

An SBA loan from Danversbank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Marblehead, Massachusetts business owner got a $150,000 loan.

This business knew how to go about getting a business bank loan. Based in Marblehead, Massachusetts, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Danversbank, based in Danvers, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: CHILDREN'S AND INFANTS' CLOTHING STORES
MARBLEHEAD, MA 01945

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

This lender processed this 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

448130 - Children's and Infants' Clothing Stores

Loan Approval Date

7/31/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Danversbank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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