Bank Loans for Natural Gas Distribution

With these bank loans for natural gas distribution, the SBA guarantees the lender that the loan will be repaid. This natural gas distribution loan for $600,000 was given to a Massachusetts entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Methuen (town Of), Massachusetts was able to borrow $600,000 from Middlesex Savings Bank. The SBA made the loan possible by guaranteeing $300,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: NATURAL GAS DISTRIBUTION
METHUEN (TOWN OF), MA 01844

SBA Loan Lender

MIDDLESEX SAVINGS BANK
6 MAIN ST
NATICK, MA 01760

This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

221210 - Natural Gas Distribution

Loan Approval Date

5/20/2004

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 38 employees. The loan application indicated that the loan would help retain 38 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Middlesex Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Middlesex Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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