Financing for Certified Public Accountants

Looking for commercial loans for certified public accountants? An SBA loan may be just what you've been looking for. This $10,000 certified public accountants loan was issued by a Pennsylvania bank.

This business knew how to go about getting a business bank loan. Based in Boston, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Sovereign Bank, based in Villanova, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: CERTIFIED PUBLIC ACCOUNTANTS
BOSTON, MA 02118

SBA Loan Lender

SOVEREIGN BANK
2 ALDWYN LN
VILLANOVA, PA 19085

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541211 - Certified Public Accountants

Loan Approval Date

5/9/2006

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had no employees. The SBA loan documents did not indicate that the company planned 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?

If you are wondering how to raise money for a business in Boston MA, you ought to talk with a local Boston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Boston businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Sovereign Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - Getting Venture Capital

Small Business Banks in Villanova, Pennsylvania

SBA Participating Banks in Pennsylvania