Loan Census Banking News and Information
October 19, 2020  
 
 
  Business Loan Information  
 

Framingham, Massachusetts Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Framingham, Massachusetts small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are looking for a small business loan and your business is based in Framingham, Massachusetts, we've assembled a list of local small business banks that you should contact.

Local Framingham Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Framingham.

Small Business Bank Recent SBA Loans
Banknorth Massachusetts  
Blais Electrical Corporation  
Citizens Bank - Branch Offices- Framingham  
Citizens Bank - Framingham- Branches- Branch Offices  
Citizens Bank - Supermarket Branches- Stop N Shop  
Corporate ATM Services  
Countrywide Bank  
First American Mortgage Corp.  
Fleet Bank Of Massachusetts NA  
Framingham Co-operative Bank 4
Framingham Municipal Federal Credit Union  
Melrose Co-Operative Bank  
Metrowest Bank  
Middlesex Savings Bank 2
Northern Mass Telephone Workers Credit Union  
Rbs Citizens 3
Washington Savings Bank  

Banks that Lend to Framingham Businesses

This is a list of banks outside of Framingham, Massachusetts that have provided SBA loans to Framingham businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
8
Bank Of America
Providence, RI
19
Capital One
Mclean, VA
8
Cit Small Business Lending Corp
Livingston, NJ
3
Citicapital Small Business Finance
Irving, TX
1
Comerica Bank
Sacramento, CA
1
Eastern Bank
Boston, MA
5
Eastern Bank
Lynn, MA
1
Enterprise Bank & Trust
Lowell, MA
2
Flagship Bank & Trust
Worcester, MA
2
Home Loan Invest Bank F.s.b.
Warwick, RI
1
Independence Bank
East Greenwich, RI
2
Middlesex Savings Bank
Natick, MA
1
Rbs Citizens
Boston, MA
14
Rbs Citizens
Norwood, MA
2
Rbs Citizens
Providence, RI
69
Salem Five Cents Savings Bank
Salem, MA
1
South Shore Co-operative Bank
Weymouth, MA
1
Sovereign Bank
Boston, MA
1
Sovereign Bank
Dorchester, MA
1
Sovereign Bank
Villanova, PA
5
Sovereign Bank
Wyomissing, PA
2
Td Banknorth
Nashua, NH
1
Td Banknorth
Portland, ME
15
Ups Capital Business Credit
Boston, MA
1

Framingham Bank Loan Tips

As a prerequisite to contacting banks for a loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the bank.

Having a business plan is essential. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to pledge your personal assets, such as the equity in your home. The banks will check on your personal credit history in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list are SBA lenders. Prior to visiting local banks, you may want to get up to speed on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review 504 Loans.

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