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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 > Fitness And Recreational Sports Centers Loan | ||||
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SBA Lenders Massachusetts
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Entrepreneur Works With Boston, Massachusetts Bank to Get an SBA LoanGet SBA loans from a Boston, Massachusetts bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too. Eastern Bank is a Boston, Massachusetts small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Massachusetts company. SBA Loan Borrower COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS SBA Loan Lender EASTERN BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 9/4/2003 Loan Approval Gross Amount $975,000 Loan Approval from the SBA Of the total $975,000 loan amount, the SBA guaranteed $731,250. 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 30 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 27 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source 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: SBA Participating Banks in Boston, Massachusetts
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