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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > North Andover, Business Loans > Riverbank North Andover Business Loans > Petroleum Bulk Stations And Terminals Loan | ||||
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North Andover Bank Loan
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North Andover, Massachusetts Bank Gives SBA Loan to Petroleum Bulk Stations And Terminals CompanyThinking about meeting with a North Andover, Massachusetts bank about an SBA loan? Here's one Massachusetts business loan, issued by a North Andover bank, that was approved by the SBA. Applying for an SBA loan with Riverbank worked out well for our friends at one local business in Middleton (town Of), Massachusetts. They received an SBA loan for $250,000. Nice! SBA Loan Borrower COMPANY TYPE: PETROLEUM BULK STATIONS AND TERMINALS SBA Loan Lender RIVERBANK 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 424710 - Petroleum Bulk Stations and Terminals Loan Approval Date 10/8/2004 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 74 employees. The loan application indicated that the loan would help retain 74 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $250,000 loan. Remember, feel the fear, and do it anyway. 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 Banks in North Andover, Massachusetts
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