Loans for Fish and Seafood Merchant Wholesalers

With these loans for fish and seafood merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This fish and seafood merchant wholesalers loan for $1,150,000 was given to a Massachusetts entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in New Bedford, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Eastern Bank, based in Boston, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: FISH AND SEAFOOD MERCHANT WHOLESALERS
NEW BEDFORD, MA 02740

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424460 - Fish and Seafood Merchant Wholesalers

Loan Approval Date

6/15/2006

Loan Approval Gross Amount

$1,150,000

Loan Approval from the SBA

Of the total $1,150,000 loan amount, the SBA guaranteed $1,035,000.

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 50 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

How to Raise Money

Best Banks in Boston, Massachusetts

Where to Get an SBA Loan Massachusetts