Lowell Five Cent Savings Bank SBA Loan to Flowers, Nursery Stock, And Florists Supplies Company

Looking to get a Massachusetts business loan? Here's one Massachusetts business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Lowell Five Cent Savings Bank, out of Lowell, Massachusetts. The loan was granted and they received $40,000 to help grow their Tewksbury, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: FLOWERS, NURSERY STOCK, AND FLORISTS SUPPLIES
TEWKSBURY, MA 01876

SBA Loan Lender

LOWELL FIVE CENT SAVINGS BANK
1 MERRIMACK PLZ
LOWELL, MA 01852

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

5193 - Flowers, Nursery Stock, and Florists Supplies

Loan Approval Date

8/18/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $32,000.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lowell Five Cent Savings Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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