SBA: Biz Lending in Mass. Increased 11.9 Percent
More small businesses in Massachusetts were able to get loans backed by the U.S. Small Business Administration for 2023, increasing by 11 percent from last year.
SBA Lending Ticked Up in Mass. This Year
While the number of U.S. Small Business Administration loans increased slightly in Massachusetts, the total amount of lending fell during the most recent fiscal year.
Eastern Bank, Cape Cod 5 Among SBA’s Top Lenders
Eastern Bank was named a top lender for the 13th consecutive year by the Massachusetts district office of the U.S. Small Business Administration, and Cape Cod Five provided more loans to female entrepreneurs than any other Massachusetts lender.
New Data Shows Top Mass. SBA Lenders of 2021
In a year when Massachusetts businesses received nearly $6.9 billion in another round of Paycheck Protection Program lending, the U.S. Small Business Administration’s traditional loan programs also provided an additional $970 million in funding to small businesses.
State’s Small Businesses Receive $450M from SBA’s Other Products
In a year when more than 118,000 Massachusetts small businesses received Paycheck Protection Program loans, the state’s U.S. Small Business Administration office still saw almost $450 million in lending to more than 1,500 small businesses through its traditional loan products.
Businesses Turn to SBA Loans to Buy Instead of Lease
With the local economy remaining strong and interest rates at historic lows, some small business owners have taken advantage of these conditions by turning away from leasing and instead taking out loans to purchase real estate for their businesses.
Competition Heats Up In SBA Market
As credit unions, large banks and community banks plunge deeper into the Small Business Administration loan market, the competition may drive financial institutions to offer better rates and loan terms to consumers, issue more SBA 504 loans and spur innovation.
Foster Health Systems Receives SEED Loan Toward Expansion
Foster Health Systems Inc. in Stoughton has received...
