Borrowing Money for Ambulance Services

With these small business loans for ambulance services, the SBA guarantees the lender that the loan will be repaid. This ambulance services loan for $340,000 was given to a Massachusetts entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Medford, Massachusetts was able to borrow $340,000 from Salem Five Cents Savings Bank. The SBA made the loan possible by guaranteeing $255,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: AMBULANCE SERVICES
MEDFORD, MA 02155

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621910 - Ambulance Services

Loan Approval Date

5/19/2005

Loan Approval Gross Amount

$340,000

Loan Approval from the SBA

Of the total $340,000 loan amount, the SBA guaranteed $255,000.

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 2 employees. The SBA loan application for the borrower indicated that the funding would help create 15 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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Bank Credit Lines

Who Lends Money to Small Businesses in Salem, Massachusetts

SBA Lenders in Massachusetts