Salem Five Cents Savings Bank Provides SBA Loan to Buy Pirtek Usa Franchise

Borrowing money to buy a Pirtek Usa franchise? Salem Five Cents Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Pirtek Usa franchise loans are available to Newbury, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Salem Five Cents Savings Bank, based in Salem, Massachusetts, issued an SBA franchise loan for a Pirtek Usa franchise in 2003. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

PIRTEK
NEWBURY, MA 01951

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
210 ESSEX ST
SALEM, MA 01970

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7699 - Repair Shops and Related Services

NAICS Code

811219 - Electronic and Precision Equipment Repair and Maintenance

Loan Approval Date

2/28/2003

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pirtek Usa franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Pirtek

Business Credit Evaluation

Small Bank Loans in Salem, Massachusetts

Massachusetts SBA 7A Lenders