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May 3, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Eastern Bank Boston Business Loans > Men's And Boys' Clothing And Accessory Stores Loan | ||||
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MA SBA Loans from Eastern Bank
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SBA Loan from Eastern Bank Helps Men's And Boys' Clothing And Accessory Stores CompanyEastern Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Dennis, Massachusetts was able to borrow $2,000,000 from Eastern Bank. The SBA made the loan possible by guaranteeing $500,000 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CLOTHING AND ACCESSORY STORES SBA Loan Lender EASTERN BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5611 - Men's and Boys' Clothing and Accessory Stores NAICS Code 448110 - Men's Clothing Stores Loan Approval Date 12/5/2001 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $500,000. 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 52 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Small Business Banks in Boston, Massachusetts
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