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December 21, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Eastern Bank Boston Business Loans > Limited-Service Restaurants Loan | ||||
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Massachusetts SBA Banks
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Entrepreneur Works With Boston, Massachusetts Bank to Get an SBA LoanThinking about meeting with a Boston, Massachusetts bank about a small business loan? Here's one Massachusetts business loan, issued by a Boston bank, that was approved by the SBA. Applying for an SBA loan with Eastern Bank worked out well for our friends at one local company in Cambridge, Massachusetts. They got an SBA loan for $34,000. Great job! SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender EASTERN BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 10/7/2005 Loan Approval Gross Amount $34,000 Loan Approval from the SBA Of the total $34,000 loan amount, the SBA guaranteed $25,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 14 new jobs and retain 2 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Eastern Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 From a Venture Capitalist Best Banks in Boston, Massachusetts
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