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December 22, 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 > Food Stores Loan | ||||
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Small Business Loans from Beverly Co-Operative Bank
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Beverly Co-Operative Bank SBA Loan to Food Stores CompanyAn SBA loan from Beverly Co-Operative Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Somerville, Massachusetts business owner got a $100,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Somerville, Massachusetts was able to borrow $100,000 from Beverly Co-Operative Bank. The SBA made the loan possible by guaranteeing $80,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: FOOD STORES SBA Loan Lender BEVERLY CO-OPERATIVE BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5499 - Food Stores Loan Approval Date 6/30/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $100,000 loan. Remember, feel the fear, and do it anyway. 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: SBA Participating Banks in Beverly, Massachusetts
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