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November 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Billerica, Business Loans > Enterprise Bank & Trust Billerica Business Loans > Real Estate Agents And Managers Loan | ||||
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Who Lends Money to Billerica Businesses
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Enterprise Bank & Trust Gives Business Loan to Real Estate Agents And Managers CompanyMassachusettsBusiness loans are available to Massachusetts business owners through the SBA. In this case, a Massachusetts bank provides the loan. By giving the right information to Enterprise Bank & Trust, this Billerica, Massachusetts business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: REAL ESTATE AGENTS AND MANAGERS SBA Loan Lender ENTERPRISE BANK & TRUST This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 6531 - Real Estate Agents and Managers NAICS Code 531390 - Activities Related to Real Estate Loan Approval Date 7/15/2003 Loan Approval Gross Amount $1,300,000 Loan Approval from the SBA Of the total $1,300,000 loan amount, the SBA guaranteed $975,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 65 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your 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. Enterprise Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Enterprise Bank & Trust 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. Related Links: The Friends and Family Network Good Banks for Small Business in Billerica, Massachusetts
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