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December 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Salem, Business Loans > Salem Five Cents Savings Bank Salem Business Loans > Shoe Stores Loan | ||||
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Salem Five Cents Savings Bank Small Business Loan
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Shoe Stores LoansLooking for loans for shoe stores? Talk to a banker who works with the SBA. This $150,000 shoe stores loan was issued by a Massachusetts bank. This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Salem Five Cents Savings Bank, out of Salem, Massachusetts. The loan was granted and they received $150,000 to help grow their South Hamilton (rr Name Hamilt, Massachusetts business. SBA Loan Borrower COMPANY TYPE: SHOE STORES SBA Loan Lender SALEM FIVE CENTS SAVINGS BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 448210 - Shoe Stores Loan Approval Date 7/14/2006 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding - How to Borrow Money SBA Participating Banks in Salem, Massachusetts Browse All Business Loan Sources for Massachusetts
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