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November 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Eastern Bank Boston Business Loans > Testing Laboratories Loan | ||||
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Raising Money in Buzzards Bay, Massachusetts With SBA Loans
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Testing Laboratories LoansWith these loans for testing laboratories, the SBA guarantees the lender that the loan will be repaid. This testing laboratories loan for $175,000 was given to a Massachusetts entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Buzzards Bay, Massachusetts was able to borrow $175,000 from Eastern Bank. The SBA made the loan possible by guaranteeing $87,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: TESTING LABORATORIES SBA Loan Lender EASTERN BANK The lender provided this bank 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. NAICS Code 541380 - Testing Laboratories Loan Approval Date 5/20/2005 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $87,500. 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 58 employees. The SBA loan documents indicated that the loan would help retain 58 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Eastern Bank and they will explain how you can get an SBA loan for your company. 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: Small Business Banks in Boston, Massachusetts
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