SBA Loan from Eastern Bank Helps Tax Preparation Services Company

An SBA loan from Eastern Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a South Easton, Massachusetts business owner got a $10,000 loan.

This growing company knew how to go about getting a business bank loan. Based in South Easton, Massachusetts, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Eastern Bank, based in Boston, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: TAX PREPARATION SERVICES
SOUTH EASTON, MA 02375

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

541213 - Tax Preparation Services

Loan Approval Date

5/27/2003

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are raising money in South Easton MA, you ought to talk with a local South Easton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to South Easton businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Eastern Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Determining Proper Capital Structure for a Business

Find an SBA Lender in Boston, Massachusetts

Massachusetts SBA 7A Banks