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November 25, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Eastern Bank Boston Business Loans > Temporary Help Services Loan | ||||
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Raising Money in Burlington, Massachusetts With SBA Loans
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Burlington, Massachusetts Entrepreneur Gets a Business LoanWould a Massachusetts bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Massachusetts bank, which offers SBA loans to Massachusetts entrepreneurs. This small business, based in Burlington, 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 Eastern Bank. We've got the inside scoop on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: TEMPORARY HELP SERVICES SBA Loan Lender EASTERN BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561320 - Temporary Help Services Loan Approval Date 5/26/2005 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 118 employees. The SBA loan documents indicated that the loan would help retain 118 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA Banks in Boston, Massachusetts
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