Clinton (town Of), Massachusetts Business Gets SBA-Guaranteed Funding from Eastern Bank

An SBA loan from Eastern Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Clinton (town Of), Massachusetts business owner got a $500,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clinton (town Of), Massachusetts was able to borrow $500,000 from Eastern Bank. The SBA made the loan possible by guaranteeing $250,000 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: CURRENT-CARRYING WIRING DEVICE MANUFACTURING
CLINTON (TOWN OF), MA 01510

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

The lender provided this SBA small 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.

NAICS Code

335931 - Current-Carrying Wiring Device Manufacturing

Loan Approval Date

9/10/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $250,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

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