Ups Capital Business Credit SBA Loan to Leather Tanning And Finishing Company

Ups Capital Business Credit is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Massachusetts entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salem, Massachusetts was able to borrow $1,000,000 from Ups Capital Business Credit. The SBA made the loan possible by guaranteeing $346,690 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: LEATHER TANNING AND FINISHING
SALEM, MA 01970

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
175 FEDERAL ST
BOSTON, MA 02110

This debt financing 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.

SIC Code

3111 - Leather Tanning and Finishing

NAICS Code

316110 - Leather and Hide Tanning and Finishing

Loan Approval Date

3/15/2000

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $346,690.

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 10 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $1,000,000. How would you spend $1,000,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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