Industrial Design Services Loans

With these loans for industrial design services, the SBA guarantees the lender that the loan will be repaid. This industrial design services loan for $200,000 was given to a Massachusetts entrepreneur in 2006.

Getting a small business loan in Newburyport, Massachusetts was important for this growing firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Ocean Bank, operating out of Portsmouth, New Hampshire. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL DESIGN SERVICES
Newburyport, MA 01950

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

541420 - Industrial Design Services

Loan Approval Date

9/27/2006

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 4 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

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

While you may be able to find business people willing to loan money, 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.

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