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December 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Danvers, Business Loans > Danversbank Danvers Business Loans > Clothing Stores Loan | ||||
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How to Get SBA Loans in Middleton, Massachusetts
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Clothing Stores Commercial LoansWith these commercial loans for clothing stores, the SBA guarantees the lender that the loan will be repaid. This clothing stores loan for $50,000 was given to a Massachusetts entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Middleton, Massachusetts was able to borrow $50,000 from Danversbank. The SBA made the loan possible by guaranteeing $42,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: CLOTHING STORES SBA Loan Lender DANVERSBANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448190 - Clothing Stores Loan Approval Date 4/18/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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. Related Links: SBA Banks in Danvers, Massachusetts
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