Loan Census Banking News and Information
October 26, 2020  
  Business Loan Information  

How to Get SBA Money in Dedham, Massachusetts


Loan Census SBA Loan Info

Massachusetts Small Business Loan Issued to Towing And Tugboat Services Company

Bank loans in Massachusetts are hard to find these days. We take a look at one Massachusetts bank loan, provided by a Rhode Island bank, that was approved by the SBA.

By giving the right information to Textron Business Credit, Inc., this Dedham, Massachusetts business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

DEDHAM, MA 02026

SBA Loan Lender


This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4492 - Towing and Tugboat Services


488410 - Motor Vehicle Towing

Loan Approval Date


Loan Approval Gross Amount


Loan Approval from the SBA

Of the total $219,000 loan amount, the SBA guaranteed $164,250.

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 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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 news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. 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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Where to Get an SBA Loan Rhode Island