Entrepreneur Works With Chelmsford, Massachusetts Bank to Get an SBA Loan

Get to know Chelmsford, Massachusetts banks that specialize in business loans and know how to work with entrepreneurs. Enterprise Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Lowell, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Enterprise Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANING
LOWELL, MA 01852

SBA Loan Lender

ENTERPRISE BANK & TRUST
185 LITTLETON RD
CHELMSFORD, MA 01824

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7215 - Coin-Operated Laundries and Drycleaning

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

9/3/2003

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

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

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Lowell MA, you ought to talk with a local Lowell SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lowell businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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SBA Banks in Chelmsford, Massachusetts

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