Boston, Massachusetts Entrepreneur Gets an SBA Loan

Would a Massachusetts small business loan help your small business to grow and prosper? If so, you may want to talk with this Rhode Island bank, which offers SBA loans to Massachusetts entrepreneurs.

This small business, based in Boston, Massachusetts, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of America. We've got the inside scoop on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER RELATED SERVICES
BOSTON, MA 02221

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

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

SIC Code

7379 - Computer Related Services

NAICS Code

541519 - Computer Related Services

Loan Approval Date

10/5/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 16 employees. The loan application indicated that the loan would help generate 16 new jobs and retain 16 existing jobs.

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

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of America so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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