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April 25, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > North Andover, Business Loans > Riverbank North Andover Business Loans > Lawyers Loan | ||||
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SBA Lenders in Massachusetts
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Lawyers Business LoansLooking for business loans for lawyers? An SBA loan may be just what you've been looking for. This $25,000 lawyers loan was issued by a Massachusetts bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lawrence, Massachusetts was able to borrow $25,000 from Riverbank. The SBA made the loan possible by guaranteeing $12,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender RIVERBANK This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 541110 - Lawyers Loan Approval Date 12/2/2004 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 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: Best Banks in North Andover, Massachusetts Getting a Business Loan in Massachusetts
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