Monson, Massachusetts Bank Lends Money to Industrial And Personal Service Paper Company in Fitchburg, Massachusetts

Thinking about meeting with a Monson, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by a Monson bank, that was approved by the SBA.

Applying for an SBA loan with Monson Savings Bank worked out well for our friends at one local company in Fitchburg, Massachusetts. They got an SBA loan for $136,500. Great job!

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND PERSONAL SERVICE PAPER
FITCHBURG, MA 01452

SBA Loan Lender

MONSON SAVINGS BANK
146 MAIN ST
MONSON, MA 01057

This lender issued this particular bank 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

5113 - Industrial and Personal Service Paper

NAICS Code

422130 - Industrial and Personal Service Paper Wholesalers

Loan Approval Date

4/22/2002

Loan Approval Gross Amount

$136,500

Loan Approval from the SBA

Of the total $136,500 loan amount, the SBA guaranteed $116,025.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Monson Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Monson Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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