SBA Loans for Ambulance Services

Looking for SBA loans for ambulance services? The SBA may be the answer. This $100,000 ambulance services loan was issued by a Massachusetts bank.

This small business knew how to go about getting a business bank loan. Based in Medford, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Salem Five Cents Savings Bank, based in Salem, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: AMBULANCE SERVICES
MEDFORD, MA 02155

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
71 WASHINGTON ST
SALEM, MA 01970

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

621910 - Ambulance Services

Loan Approval Date

12/16/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 15 employees. The loan application indicated that the funding would help create 2 new jobs.

Getting an SBA Loan For Your Business

If you are raising money in Medford MA, you ought to talk with a local Medford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Medford businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Salem Five Cents Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Small Business Credit Cards

Find an SBA Lender in Salem, Massachusetts

SBA Participating Banks in Massachusetts