Fitchburg, Massachusetts Bank Gives SBA Loan to Help Supply Services Company

Want to talk with a Fitchburg, Massachusetts bank about a business loan? Here's one Massachusetts business loan, issued by a Fitchburg bank, that was approved by the SBA.

Applying for an SBA loan with Fidelity Co-Operative Bank worked out well for our friends at one local business in Leominster, Massachusetts. They got an SBA loan for $100,000. Nice!

SBA Loan Borrower

COMPANY TYPE: HELP SUPPLY SERVICES
LEOMINSTER, MA 01453

SBA Loan Lender

FIDELITY CO-OPERATIVE BANK
675 MAIN ST
FITCHBURG, MA 01420

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7363 - Help Supply Services

NAICS Code

561320 - Temporary Help Services

Loan Approval Date

10/23/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 8 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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:

Determining Proper Capital Structure for a Business

SBA 7A Banks in Fitchburg, Massachusetts

Getting an SBA Loan in Massachusetts