Middlesex Savings Bank Gives SBA Loan to Photography Studios, Portrait Company

Bank loans in Massachusetts are tough to come by these days. We take a look at one Massachusetts bank loan, provided by a Massachusetts bank, that was approved by the SBA.

By giving the right information to Middlesex Savings Bank, this Maynard (town Of), Massachusetts business was able to get an SBA loan. To get this loan, the entrepreneur 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: PHOTOGRAPHY STUDIOS, PORTRAIT
MAYNARD (TOWN OF), MA 01754

SBA Loan Lender

MIDDLESEX SAVINGS BANK
6 MAIN ST
NATICK, MA 01760

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

7/20/2007

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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Maynard (town Of) MA, you ought to talk with a local Maynard (town Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Maynard (town Of) businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Business Credit Evaluation

SBA 7A Banks for Natick, Massachusetts Loans

Where to Get an SBA Loan Massachusetts