Loan Census Banking News and Information
December 25, 2024  
 
 
  Business Loan Information  
 

SBA Lender Acton, Massachusetts

 

 
Loan Census SBA Loan Info

Acton, Massachusetts Bank Lends Money to Eating Places Company in Lunenburg, Massachusetts

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

Applying for an SBA loan with Middlesex Savings Bank worked out well for our friends at one local business in Lunenburg, Massachusetts. They got an SBA loan for $125,000. Great job!

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
LUNENBURG, MA 01462

SBA Loan Lender

MIDDLESEX SAVINGS BANK
291 MAIN ST
ACTON, MA 01720

This lender issued this particular debt financing 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/1/2001

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

Related Links:

The Art of Bootstrapping

Small Bank Loans in Acton, Massachusetts

SBA Lenders in Massachusetts