Northampton, MA Entrepreneur Gets SBA Loan to Buy Mad Science Group Franchise

Borrowing money to buy a Mad Science Group franchise? Florence Savings Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Northampton, Massachusetts and are interested in buying a Mad Science Group franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Florence Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MAD SCIENCE OF WESTERN NEW ENG
NORTHAMPTON, MA 01061

SBA Loan Lender

FLORENCE SAVINGS BANK
85 MAIN ST
FLORENCE, MA 01062

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

5049 - Professional Equipment and Supplies

NAICS Code

453210 - Office Supplies and Stationery

Loan Approval Date

7/19/2001

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Mad Science Group franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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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