Borrow Money to Buy a Mr. Electric Franchise

Need money to invest in a Mr. Electric franchise? Century Bank And Trust Company has a history of making these loans and they are guaranteed by the SBA.

Mr. Electric franchise loans are available to Beverly, Massachusetts entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Century Bank And Trust Company, based in Somerville, Massachusetts, issued an SBA franchise loan for a Mr. Electric franchise in 2007. We've got all the details on this Massachusetts small business loan.

SBA Loan Borrower

MR ELECTRIC
BEVERLY, MA 01915

SBA Loan Lender

CENTURY BANK AND TRUST COMPANY
102 FELLSWAY WEST
SOMERVILLE, MA 02145

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

6/19/2007

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mr. Electric franchise. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Beverly MA, you ought to talk with a local Beverly SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Beverly businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Mr. Electric

Obtaining Funding - Getting Venture Capital

Who Lends Money to Small Businesses in Somerville, Massachusetts

Massachusetts SBA Banks