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May 17, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Eastern Bank Boston Business Loans > Plumbing, Heating, And Air-Conditioning Contractors Loan | ||||
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Examples of Mashpee SBA Loans
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Small Business Loans for Plumbing, Heating, and Air-Conditioning ContractorsLooking for small business loans for plumbing, heating, and air-conditioning contractors? The SBA may be the answer. This $125,000 plumbing, heating, and air-conditioning contractors loan was issued by a Massachusetts bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mashpee, Massachusetts was able to borrow $125,000 from Eastern Bank. The SBA made the loan possible by guaranteeing $62,500 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS SBA Loan Lender EASTERN BANK The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 238220 - Plumbing, Heating, and Air-Conditioning Contractors Loan Approval Date 3/28/2007 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your 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. This SBA loan was for $125,000. How would you spend $125,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Borrowing Money from Friends and Family Where to Get an SBA Loan in Boston, Massachusetts Getting an SBA Loan in Massachusetts
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