Local Business Gets a Massachusetts Business Loan

Would a Massachusetts business loan help your company expand? If so, you may want to talk with this Massachusetts bank, which offers SBA loans to Massachusetts entrepreneurs.

By giving the right information to Enterprise Bank & Trust, this Lowell, Massachusetts business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: ELECTRIC AND OTHER SERVICES COMBINED
LOWELL, MA 01851

SBA Loan Lender

ENTERPRISE BANK & TRUST
237 LITTLETON RD
WESTFORD, MA 01886

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4931 - Electric and Other Services Combined

NAICS Code

221112 - Fossil Fuel Electric Power

Loan Approval Date

11/15/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

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 7 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Enterprise Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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