Loan to Buy Abbey Carpet Franchise Issued By Danversbank

Borrowing money to buy an Abbey Carpet franchise? Danversbank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Waltham, Massachusetts needed money to invest in an Abbey Carpet franchise back in 2002. Danversbank issued an SBA franchise loan. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

LANGLEY'S ABBEY CARPETS INC
WALTHAM, MA 02154

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

2/16/2002

Loan Approval Gross Amount

$363,400

Loan Approval from the SBA

Of the total $363,400 loan amount, the SBA guaranteed $272,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Abbey Carpet franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Danversbank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Abbey Carpet

Business Cash Advances

Small Business Banks in Danvers, Massachusetts

Massachusetts SBA 7A Lenders