Methuen, Massachusetts Entrepreneur Gets a Small Business Loan

Looking to get a Massachusetts bank loan? This Massachusetts entrepreneur got a bank loan, provided by a Massachusetts bank that works with the SBA to help small business owners.

Getting a small business loan in Methuen, Massachusetts was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Sovereign Bank. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
METHUEN, MA 01844

SBA Loan Lender

SOVEREIGN BANK
296 ESSEX ST
LAWRENCE, MA 01842

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

6/28/2002

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 11 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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