Electrical Contractors Commercial Loans

With these commercial loans for electrical contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors loan for $65,000 was given to a Massachusetts entrepreneur in 2001.

Getting a small business loan in Oxford, Massachusetts was important for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Hometown Bank A Co-Operative B, operating out of Oxford, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: HEALTH AND ALLIED SERVICES
OXFORD, MA 01524

SBA Loan Lender

HOMETOWN BANK A CO-OPERATIVE B
31 SUTTON AVE
OXFORD, MA 01540

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

8099 - Health and Allied Services

NAICS Code

235310 - Electrical Contractors

Loan Approval Date

7/27/2001

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hometown Bank A Co-Operative B had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hometown Bank A Co-Operative B 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.

Related Links:

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Getting a Business Loan in Massachusetts