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March 28, 2024  
 
 
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I Need a Small Business Loan in Melrose, Massachusetts

 

 
Loan Census SBA Loan Info

Engineering Services SBA Loans

With these SBA loans for engineering services, the SBA guarantees the lender that the loan will be repaid. This engineering services loan for $50,000 was given to a Massachusetts entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Melrose, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Rbs Citizens, based in Boston, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
MELROSE, MA 02176

SBA Loan Lender

RBS CITIZENS
28 STATE ST
BOSTON, MA 02109

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

541330 - Engineering Services

Loan Approval Date

3/25/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Incubators

Best Banks in Boston, Massachusetts

Getting an SBA Loan in Massachusetts