Somerville, Massachusetts Bank Lends Money to Animal Specialty Services Company in Somerville, Massachusetts

Get to know Somerville, Massachusetts banks that specialize in SBA loans and know how to work with entrepreneurs. Central Co-Operative Bank is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: ANIMAL SPECIALTY SERVICES
SOMERVILLE, MA 02144

SBA Loan Lender

CENTRAL CO-OPERATIVE BANK
399 HIGHLAND AVE
SOMERVILLE, MA 02144

This lender issued this particular 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

0752 - Animal Specialty Services

NAICS Code

812910 - Pet Care Services

Loan Approval Date

9/19/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Central Co-Operative Bank and they will explain how you can get an SBA loan for your company.

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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