Natick, Massachusetts Bank Lends Money to General Contractors-Industrial Buildings, Warehous Company in Wayland, Massachusetts

Find Natick, Massachusetts banks that specialize in business loans and know how to work with entrepreneurs. Middlesex Savings Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Wayland, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Middlesex Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL CONTRACTORS-INDUSTRIAL BUILDINGS, WAREHOUS
WAYLAND, MA 01778

SBA Loan Lender

MIDDLESEX SAVINGS BANK
6 MAIN ST
NATICK, MA 01760

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1541 - General Contractors-Industrial Buildings, Warehous

Loan Approval Date

9/27/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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