Wakefield, Massachusetts Lender Lends Money to Camera And Photographic Supplies Stores Company

Thinking about meeting with a Wakefield, Massachusetts bank about a business loan? Here's one Massachusetts business loan, issued by a Wakefield bank, that was approved by the SBA.

Applying for an SBA loan with Massachusetts Business worked out well for our friends at one local firm in Norfolk, Massachusetts. They received an SBA loan for $350,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: CAMERA AND PHOTOGRAPHIC SUPPLIES STORES
NORFOLK, MA 02062

SBA Loan Lender

MASSACHUSETTS BUSINESS
500 EDGEWATER DR., SUITE 555
WAKEFIELD, MA 01880

This lender provides SBA debt financing 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

443130 - Camera and Photographic Supplies Stores

Loan Approval Date

6/20/2002

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 24 employees. The SBA loan documents indicated that the loan would help retain 24 existing 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Attracting Investors

Best Wakefield, Massachusetts Banks for Small Business

Find an SBA Lender in Massachusetts