Local Business Gets a Massachusetts Bank Loan
Looking to get a Massachusetts business loan? This Massachusetts entrepreneur got a business loan, provided by a Massachusetts bank that works with the SBA to help small business owners.
Getting a small business loan in Lowell, Massachusetts was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Td Banknorth. Here are the details on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: LOCAL PASSENGER TRANSPORTATION, N.E.C
LOWELL, MA 01851
SBA Loan Lender
61 MAIN ST
ANDOVER, MA 01810
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.
4119 - Local Passenger Transportation, N.E.C
485991 - Special Needs Transportation
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $125,000 loan amount, the SBA guaranteed $106,250.
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 8 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $125,000 loan. Remember, you control your own destiny.
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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