Shirley, Massachusetts Entrepreneur Gets a Business Loan

MassachusettsSmall business loans are available to Massachusetts small business owners through the SBA. In this case, a Massachusetts bank provides the loan.

You can learn something about getting a small business loan in Shirley, Massachusetts by studying this loan to a local company, made back in 2001. Banks like North Middlesex Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MILLWORK
SHIRLEY, MA 01464

SBA Loan Lender

NORTH MIDDLESEX SAVINGS BANK
7 MAIN ST
AYER, MA 01432

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2431 - Millwork

NAICS Code

321911 - Wood Window and Door Manufacturing

Loan Approval Date

3/1/2001

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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. North 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, North 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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