Topsfield, Massachusetts Business Gets SBA-Guaranteed Funding from Danversbank

An SBA loan from Danversbank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Topsfield, Massachusetts business owner got a $50,000 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Danversbank, out of Danvers, Massachusetts. The loan was granted and they received $50,000 to help grow their Topsfield, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL EQUIPMENT AND COMPONENT MANUFACTURING
TOPSFIELD, MA 01983

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

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

335999 - Electrical Equipment and Component Manufacturing

Loan Approval Date

6/23/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Topsfield MA, you ought to talk with a local Topsfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Topsfield businesses.

We've showcased information on this loan to let you know that businesses like yours 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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