Entrepreneur Works With Boston, Massachusetts Bank to Get an SBA Loan

Find Boston, Massachusetts banks that specialize in SBA loans and know how to work with entrepreneurs. Eastern Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Salem, Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Eastern Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
SALEM, MA 01970

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

The lender provided this commercial 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

541921 - Photography Studios, Portrait

Loan Approval Date

4/12/2005

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Eastern Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Obtaining Funding - How to Borrow Money

Best Boston, Massachusetts Banks for Small Business

Getting an SBA Loan in Massachusetts