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

Get to know 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 a growing company.

Finding a small business loan in Watertown (town Of), Massachusetts starts with an understanding of who else has gotten loans in the area. In this case, a local 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: CONVENIENCE STORES
WATERTOWN (TOWN OF), MA 02472

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

4/26/2004

Loan Approval Gross Amount

$82,500

Loan Approval from the SBA

Of the total $82,500 loan amount, the SBA guaranteed $61,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

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

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