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April 28, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Eastern Bank Boston Business Loans > Convenience Stores Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Getting an SBA Loan for Convenience StoresWith these SBA loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $15,000 was given to a Massachusetts entrepreneur in 2007. This business knew how to go about getting a business bank loan. Based in Salem, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Eastern Bank, based in Boston, Massachusetts. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender EASTERN BANK This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 445120 - Convenience Stores Loan Approval Date 6/18/2007 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $7,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 6 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: SBA 7A Lenders in Boston, Massachusetts
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