Littleton, Massachusetts Entrepreneur Gets a Bank Loan

SBA loans in Massachusetts are are few and far betweeen these days. We take a look at one Massachusetts SBA loan, provided by a Massachusetts bank, that was approved by the SBA.

This small business, based in Littleton, Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from North Middlesex Savings Bank. We've got the inside scoop on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
LITTLETON, MA 01460

SBA Loan Lender

NORTH MIDDLESEX SAVINGS BANK
7 MAIN ST
AYER, MA 01432

This lender issued this particular SBA business 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

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

8/18/2000

Loan Approval Gross Amount

$31,500

Loan Approval from the SBA

Of the total $31,500 loan amount, the SBA guaranteed $25,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Littleton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

How Equity Dilution Works

SBA Participating Banks in Ayer, Massachusetts

Browse All Business Loan Sources for Massachusetts