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April 29, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Ayer, Business Loans > North Middlesex Savings Bank Ayer Business Loans > Plastics Materials And Resins Loan | ||||
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North Middlesex Savings Bank
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North Middlesex Savings Bank SBA Loan to Plastics Materials And Resins CompanyNorth Middlesex Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with North Middlesex Savings Bank, out of Ayer, Massachusetts. The loan was granted and they received $100,000 to help grow their Shirley, Massachusetts business. SBA Loan Borrower COMPANY TYPE: PLASTICS MATERIALS AND RESINS SBA Loan Lender NORTH MIDDLESEX SAVINGS BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2821 - Plastics Materials and Resins NAICS Code 325211 - Plastics Material and Resin Manufacturing Loan Approval Date 5/2/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business planned to use the funding 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Where to Get an SBA Loan in Ayer, Massachusetts
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