Commercial Loans for Construction, Mining, and Forestry Machinery Equipment Rental and Leasing

Looking for commercial loans for construction, mining, and forestry machinery equipment rental and leasing? Try the SBA. This $400,000 construction, mining, and forestry machinery equipment rental and leasing loan was issued by a Massachusetts bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Eastern Bank, out of Boston, Massachusetts. The loan was granted and they received $400,000 to help grow their Quincy, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION EQUIPMENT RENTAL AND LEASING
QUINCY, MA 02169

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7353 - Heavy Construction Equipment Rental and Leasing

NAICS Code

532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing

Loan Approval Date

6/6/2002

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $200,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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