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November 24, 2024 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Lynn, Business Loans > Eastern Bank Lynn Business Loans > General Automotive Repair Shops Loan | ||||
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Banks in Lynn, Massachusetts That Make SBA Loans
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Entrepreneur Works With Lynn, Massachusetts Bank to Get an SBA LoanGet SBA loans from a Lynn, Massachusetts bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Eastern Bank is a Lynn, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Connecticut company. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender EASTERN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 5/7/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 5 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 Lynn, Massachusetts
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