The best small business loans for Boston, MA

Take your business to new heights with the right financing

  • Apply in less than 60 seconds
  • Wide range of financing option for every need
  • Competitive rates and terms
  • Personalized service
  • Dedicated support team

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Industries we work with in Boston, MA

We're proud to work with small businesses across various industries in Boston, MA. Whether you're in healthcare, construction, or technology, we're here to help you grow and succeed. Our financing solutions are customized to meet your needs, so you can focus on what you do best - running your business!

Here are some of the many industries we serve:

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    Construction

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    Medical Practices

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    Beauty Salons

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    Retail Stores

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    Restaurants

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    Hotels

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    Manufacturing

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    Staffing

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    Automotive Businesses

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    Landscaping

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    Toy Businesses

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    Transportation

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    IT

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    Professional Services

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    Veterinary Practices

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    Franchise Businesses

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See why thousands of businesses have made SMB Compass

the top-rated small business loan provider in Boston, MA

Garrett Cushing
Garrett Cushing
November 30, 2021.
Diligent and honest people to work with. SMB has been a great resource for my business, helped me through a variety of different financing over the years.
John Limato
John Limato
November 16, 2021.
I rarely write reviews but felt the need to thank the SMB team. Found them to be honest people that took the time to understand my business and walked me through the entire process.
Connor Johnson
Connor Johnson
November 4, 2021.
SMB helped me navigate through the growth period in my business. They were diligent and genuinely cared to make sure we got the percent line in place to meet our current needs. Very happy I was introduced to them and would highly recommend.
Michelle Cota
Michelle Cota
October 27, 2021.
I am so happy that SMB was able to help our company when we were in a jam. They were so attentive and so easy to work with. Helped step by step to get financed. Thank you Clay!
Veronica Akins
Veronica Akins
October 14, 2021.
SMB Compass was helpful and fast. They kept in contact and answered all my questions. The best part of our interactions was that the lender could have given me an extremely high interest rate loan when I thought that was my only option, but he instead told me of another option that fit our needs much better and saved us money! Thank you Clay
John Folco
John Folco
October 13, 2021.
True experts in the Commerical finance space. Great company to work with, look forward to a continued relationship.
Pat Mcandrews
Pat Mcandrews
October 8, 2021.
Great team of professionals to work with. Incredibly responsive and great problem solvers. Would recommend them to anybody.
Haroon S
Haroon S
September 22, 2021.
Clay was great to work with. Very responsive and great communication.
John Lutz
John Lutz
September 15, 2021.
Great people to work with. They were transparent and helpful from the first call to closing. I would recommend them to anyone in my network.
Matthew Seymour
Matthew Seymour
July 16, 2021.
Clay & Matt are experts in the industry and they are able to advise on a number of topics.

Learn more about our loan packages

The best small business loan in Boston, MA

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    SBA Loans

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    Term Loan

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    Invoice Financing

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    Business Line of Credit

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    Inventory Financing

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    Bridge Loans

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    Equipment Financing

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    Asset Based Loans

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    Purchase Order Financing

FAQs about small business loans in Boston, MA

How to get a small business loan in Boston, MA?

If you’re looking to get a small business loan in Boston, MA, here’s what you should do:

  1. Know what you need. Before applying for a loan, get a clear idea of how much money your business needs and how you will use the funds. Doing so can help identify the best type of loan for your needs.
  2. Check your credit score. Many lenders in Boston, MA, will look at your credit score when reviewing your application, so knowing where you stand is important. If your score is less than ideal, consider improving it by making timely payments, keeping old accounts open, and limiting new credit applications.
  3. Research lenders. Many different types of lenders offer small business loans in Boston, MA, including banks, credit unions, and online lenders. Research to find out which ones best fit your needs and qualifications.
  4. Prepare your application. Once you’ve identified potential lenders, prepare your loan application carefully. This may include providing financial statements, tax returns, and other documentation demonstrating your ability to repay the loan.
  5. Apply for the loan. If you’ve found a lender you’re comfortable with, it’s time to start your application. The process varies from lender to lender, but essentially, you need to submit your loan application along with the required documents. You also need to prepare to answer any additional questions the lender may have.
  6. Wait for a decision. The lender will then review your application and decide whether to approve your loan or not. Funding speed depends on the lender and loan type. Banks usually take weeks or months, while online lenders can fund your business in a day.
 

Boston MA

Boston MA

How hard is it to get a business loan in Massachusetts?

The ease of getting a business loan in Massachusetts can depend on various factors, including your business's creditworthiness, financial history, and the type of lender you're working with. Here are some things to consider when comparing your options:

Banks

  • Pros: Banks generally have more stringent lending requirements, which means that if you meet their criteria, you're more likely to get a lower interest rate and more favorable terms. Banks also have established reputations and may be more willing to lend to businesses with a strong track record.
  • Cons: Banks often require extensive documentation and collateral, making the application process lengthy and cumbersome. Additionally, if your business has a lower credit score or less established financial history, getting approved for a loan may be more challenging.

Online Lenders

  • Pros: Online lenders have more flexible lending requirements and faster approval times. They may also offer a broader range of loan options, including small business loans, lines of credit, and invoice financing.
  • Cons: Online lenders often charge higher interest rates and fees, making borrowing more expensive over time. Additionally, some online lenders may be less established or have less track record than traditional banks, so they're riskier to work with.
Can I borrow 100% for a business loan in Boston, MA?

It is unlikely that you will be able to borrow 100% for a business loan in Boston, MA. Most banks and online lenders require a certain amount of collateral or down payment to secure the loan. Speak with a loan specialist to understand all the requirements needed to qualify and ensure you have everything required before submitting an application.

How hard is it to get a $10,000 business loan in Boston, MA?

Getting a $10,000 business loan in Boston, MA, may be easier than you think. Depending on your credit score, history, and business plan, getting a loan of this size can be straightforward. Research the different types of loans available to ensure you get the best deal with terms and interest rates that make sense for your business. Speak with a loan specialist to understand all the requirements that need to be met before committing to anything.

See how much you’re qualified for. Talk to a lending specialist today!

How hard is it to get a 250k business loan in Boston, MA?

Getting a $250,000 business loan in Boston, MA, can be more complicated than getting a smaller loan size. A strong credit score, history, and a detailed business plan are essential for obtaining the loan. Lenders will want to ensure that your business can support repayment of the loan with interest. It's important to research the different types of loans available and speak to a loan specialist who can provide information on eligibility requirements and terms associated with each type of loan. Spend time understanding all the requirements that need to be met before committing to anything.

See how much you’re qualified for. Talk to a lending specialist today!

Small business loans available in every city in Massachusetts

  • Plymouth

  • Revere

  • Medford

  • Taunton

  • Weymouth Town

  • Chicopee