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November 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Beverly, Business Loans > Beverly Co-Operative Bank Beverly Business Loans > Full-Service Restaurants Loan | ||||
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Salem, Massachusetts Bank for SBA Loans
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Full-Service Restaurants LoansLooking for loans for full-service restaurants? The SBA may be the answer. This $250,000 full-service restaurants loan was issued by a Massachusetts bank. This small firm knew how to go about getting a business bank loan. Based in Salem, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Beverly Co-Operative Bank, based in Beverly, Massachusetts. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BEVERLY CO-OPERATIVE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/14/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. We can help you find the best banks for small businesses in Salem or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Banks in Beverly, Massachusetts
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