Borrowing Money for Research and Development in the Social Sciences and Humanities

Looking for loans for research and development in the social sciences and humanities? An SBA loan may be just what you've been looking for. This $140,000 research and development in the social sciences and humanities loan was issued by a Massachusetts bank.

Getting a small business loan in Somerville, Massachusetts was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Middlesex Savings Bank, operating out of Natick, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: RESEARCH AND DEVELOPMENT IN THE SOCIAL SCIENCES AND HUMANITIES
SOMERVILLE, MA 02143

SBA Loan Lender

MIDDLESEX SAVINGS BANK
6 MAIN ST
NATICK, MA 01760

This lender processed this business 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

541720 - Research and Development in the Social Sciences and Humanities

Loan Approval Date

11/14/2007

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $70,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 7 new jobs and retain 10 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Middlesex Savings Bank 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.

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