Bank Of America Gives Bank Loan to Physicians Company

Would a Massachusetts SBA loan help your business get to the next level? If so, you may want to talk with this Rhode Island bank, which offers SBA loans to Massachusetts entrepreneurs.

This business, based in Lynn, 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 Bank Of America. We've got the inside scoop on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
LYNN, MA 01902

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

621111 - Physicians

Loan Approval Date

1/3/2005

Loan Approval Gross Amount

$32,000

Loan Approval from the SBA

Of the total $32,000 loan amount, the SBA guaranteed $16,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Bank Credit Lines

SBA Participating Banks in Providence, Rhode Island

Getting an SBA Loan in Rhode Island