Lexington, Massachusetts Entrepreneur Gets a Business Loan

Massachusetts SBA loans are available to Massachusetts entrepreneurs through the SBA. In this case, a Massachusetts bank provides the loan.

You can learn something about getting a small business loan in Lexington, Massachusetts by studying this loan to Landmark Exterior Restoration, Inc., made back in 2007. Banks like Eastern Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

Landmark Exterior Restoration, Inc.
100 MYRTLE St
LEXINGTON, MA 02421

SBA Loan Lender

EASTERN BANK
265 FRANKLIN ST
BOSTON, MA 02110

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

561790 - Other Services to Buildings and Dwellings

Loan Approval Date

9/20/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower, Landmark Exterior Restoration, Inc., 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 documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Eastern Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Obtaining Funding - How to Borrow Money

SBA 7A Banks for Boston, Massachusetts Loans

SBA Lenders in Massachusetts

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.