The best small business loans for Fall River, 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 Fall River, MA

We're proud to work with small businesses across various industries in Fall River, 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 Fall River, 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 Fall River, 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 Fall River, MA

How to get a small business loan in Fall River, MA?

If you’re looking to get a small business loan in Fall River, 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 Fall River, 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 Fall River, 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.
 

Fall River, MA

Fall River, MA

When should you ask for a business loan in Fall River, MA?

It would be best to ask for a business loan in Fall River, MA, when you need funds to start or grow your business, make capital investments, purchase equipment or inventory, hire employees, or cover unexpected expenses.

 

It is important to have a clear plan for how to use the funds and repay the loan before applying for a business loan. Additionally, checking your credit score and financial statements beforehand is a good idea, as these can be essential factors in the approval process.

What is the purpose of a business loan in Fall River, MA?

A business loan in Fall River, MA, can serve various purposes, such as:

  • Starting a new business: Business loans can provide the necessary funds to cover the initial costs of starting a new business, including equipment, inventory, and operating expenses.
  • Expanding an existing business: If you want to grow your business, a loan can help you purchase additional inventory or equipment, hire new employees, or even open a new location.
  • Covering cash flow gaps: Sometimes, businesses experience cash flow gaps due to slow-paying customers, seasonal sales fluctuations, or unexpected expenses. A business loan can help cover these gaps and keep the business running smoothly.
  • Investing in new opportunities: A business loan can provide funds for new opportunities, such as investing in new technology, marketing campaigns, or research and development.

A business loan can be a valuable tool for achieving your business goals and growing your company in Fall River, MA.

What are the advantages of a business using a loan in Fall River, MA?

There are several advantages that a business can enjoy by using a loan in Fall River, MA. Some of these advantages include:

  • Meeting Immediate Financial Needs: A business loan can help a business meet immediate financial needs, such as paying for unexpected expenses or managing cash flow during slow periods.
  • Opportunity for Growth: By securing a business loan, a business can invest in growth opportunities such as expanding operations, hiring more employees, or investing in new equipment or technology.
  • Improving Credit Score: Timely repayment of a business loan can help a business establish or improve its credit score, making it easier to access credit in the future.
  • Retaining Control: Unlike equity financing, where a business has to give up a portion of its ownership, a business loan allows a company to retain control over its operations and decision-making.
  • Tax Benefits: Interest paid on a business loan is tax-deductible, which can help reduce the overall tax liability of a business.

It is important to note that the advantages of using a business loan depend on the specific circumstances of each business, and it is important to carefully consider the costs and risks associated with borrowing before taking out a loan.

Why do you need collateral for a business loan in Fall River, MA?

In Fall River, MA, lenders may require collateral for a business loan as a form of security for their investment. Collateral is an asset that a borrower pledges to the lender in case they cannot repay the loan. It acts as a safety net for the lender, who can seize and sell the collateral to recover their losses if the borrower defaults. This reduces the lender's risk and can make it easier for a business to secure a loan with more favorable terms and interest rates.

Small business loans available in every city in Massachusetts

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