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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Marblehead, Business Loans > National Grand Bank - Marblehead Marblehead Business Loans > Wine And Distilled Alcoholic Beverage Merchant Wholesalers Loan | ||||
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Raising Money in Marblehead Neck, Massachusetts With SBA Loans
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Marblehead Neck, Massachusetts Entrepreneur Gets a Business LoanMassachusettsBank loans are available to Massachusetts firms through the SBA. In this case, a Massachusetts bank provides the loan. By giving the right information to National Grand Bank - Marblehead, this Marblehead Neck, Massachusetts business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: WINE AND DISTILLED ALCOHOLIC BEVERAGE MERCHANT WHOLESALERS SBA Loan Lender NATIONAL GRAND BANK - MARBLEHEAD This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424820 - Wine and Distilled Alcoholic Beverage Merchant Wholesalers Loan Approval Date 11/18/2004 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $55,250. 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 only one employee. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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 $65,000 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. Related Links: Determining Proper Capital Structure for a Business Find an SBA Lender in Marblehead, Massachusetts Getting an SBA Loan in Massachusetts
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