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May 16, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Boston, Business Loans > Eastern Bank Boston Business Loans > Florists Loan | ||||
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Business Loans for Stoneham Entrepreneurs
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Borrowing Money for FloristsLooking for loans for florists? The SBA may be the answer. This $60,800 florists loan was issued by a Massachusetts bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Stoneham, Massachusetts was able to borrow $60,800 from Eastern Bank. The SBA made the loan possible by guaranteeing $51,680 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: FLORISTS SBA Loan Lender EASTERN BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5992 - Florists NAICS Code 453110 - Florists Loan Approval Date 12/24/2002 Loan Approval Gross Amount $60,800 Loan Approval from the SBA Of the total $60,800 loan amount, the SBA guaranteed $51,680. 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 4 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 Getting a Business Loan in Massachusetts
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