Where to Get Capital for Home Health Care Services

Looking for small business loans for home health care services? An SBA loan may be just what you've been looking for. This $65,000 home health care services loan was issued by a Massachusetts bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Rbs Citizens, out of Boston, Massachusetts. The loan was granted and they received $65,000 to help grow their Somerville, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: HOME HEALTH CARE SERVICES
SOMERVILLE, MA 02144

SBA Loan Lender

RBS CITIZENS
28 STATE ST
BOSTON, MA 02109

This bank 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

621610 - Home Health Care Services

Loan Approval Date

5/25/2004

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $32,500.

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 62 employees. The loan application indicated that the loan would help retain 62 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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Small Bank Loans in Boston, Massachusetts

SBA Lenders in Massachusetts