Athol, Massachusetts Entrepreneur Gets a Small Business Loan

MassachusettsBusiness loans are available to Massachusetts business owners through the SBA. In this case, a Massachusetts bank provides the loan.

Getting a small business loan in Athol, Massachusetts was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Flagship Bank & Trust. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICE INDUSTRY MACHINERY
ATHOL, MA 01331

SBA Loan Lender

FLAGSHIP BANK & TRUST
120 FRONT ST
WORCESTER, MA 01608

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3589 - Service Industry Machinery

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

2/8/2001

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

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 33 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

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 $290,000 loan. Remember, fight for what you want, and it will be yours!

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:

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