Tim Fallon has launched TJ Fallon Transport, a family-owned ambulance company at 95 Eliot St. in Milton, backed by $1.893 million in SBA loans.

The company secured the financing through American Momentum Bank's Small Business Administration lending division to purchase seven ambulances and equipment, Patch reported. TJ Fallon Transport will provide basic life support ambulance transportation to health care facilities and patients across Greater Boston and the South Shore, according to a company announcement in the Milton Times.

Fallon, who co-owns the company with his wife Susan, began his EMS career at 17 at the same 95 Eliot St. building where the new company now operates. His grandfather, James R. Fallon Sr., started a private ambulance firm in 1923. Fallon joined the family business after college, took ownership in 2006 and grew it into what Patch described as one of the largest family-operated EMS providers in Massachusetts. He sold the company to a private equity firm in 2018 and retired.

Retirement didn't stick.

"Selfishly, I really missed all the people I worked with. Less selfishly, I wanted to build something with my children," Fallon told Patch.

Getting the new venture funded proved difficult. Fallon said he was rejected by three or four banks before a bank employee named Beth Chea, whose own institution could not underwrite the loan, connected him with Michael J. Burke at American Momentum Bank. Burke, a vice president and SBA business development officer III at the Texas-based bank, put together a term sheet after reviewing Fallon's business plan.

The day-to-day team includes Fallon's son James Fallon, who has 10 years of experience in EMS communications. Tim Fallon's sister Maureen Hunt brings 40 years of administrative experience, and longtime friend Ted Carroll has 40 years in EMS business development. The company's model places ownership, administration and uniformed employees in the same building.

As of the Milton Times report on Sept. 11, TJ Fallon Transport was preparing for its operational launch and recruiting EMTs. Fallon told Patch he aims to double the company's size and plans to use American Momentum Bank for future funding.