North Middlesex Savings Bank Gives Small Business Loan to Excavation Work Company

MassachusettsBank loans are available to Massachusetts firms through the SBA. In this case, a Massachusetts bank provides the loan.

You can learn something about getting a small business loan in Townsend, Massachusetts by studying this loan to a local company, made back in 2002. 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: EXCAVATION WORK
TOWNSEND, MA 01469

SBA Loan Lender

NORTH MIDDLESEX SAVINGS BANK
7 MAIN ST
AYER, MA 01432

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

1794 - Excavation Work

NAICS Code

235930 - Excavation Contractors

Loan Approval Date

3/29/2002

Loan Approval Gross Amount

$31,500

Loan Approval from the SBA

Of the total $31,500 loan amount, the SBA guaranteed $26,775.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $31,500. How would you spend $31,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

How to Raise Money

Where to Get an SBA Loan in Ayer, Massachusetts

SBA Participating Banks in Massachusetts