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November 24, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Somerville, Business Loans > Century Bank And Trust Company Somerville Business Loans > Lawyers Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Lawyers Small Business LoansWith these small business loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $25,000 was given to a Massachusetts entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Quincy, Massachusetts was able to borrow $25,000 from Century Bank And Trust Company. The SBA made the loan possible by guaranteeing $12,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender CENTURY BANK AND TRUST COMPANY This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 541110 - Lawyers Loan Approval Date 8/10/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Century Bank And Trust Company 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: Find an SBA Lender in Somerville, Massachusetts Browse All Business Loan Sources for Massachusetts
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