The best small business loans for Newton, 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 Newton, MA

We're proud to work with small businesses across various industries in Newton, 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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    Medical Practices

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    Beauty Salons

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    Retail Stores

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    Automotive Businesses

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    Toy Businesses

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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 Newton, 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 Newton, 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 Newton, MA

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

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

Newton, MA

Newton, MA

What questions to ask when getting a loan in Newton, MA?

When getting a loan in Newton, MA, you should ask the following questions:

  1. What types of loans do you offer?
  2. What are the interest rates and repayment terms for each loan type?
  3. What are the fees associated with the loan?
  4. What documents and information will I need to provide to apply for the loan?
  5. How long does the approval process typically take?
  6. What are the eligibility requirements for the loan?
  7. Is there a penalty for early repayment?
  8. What happens if I miss a payment or can't make a payment on time?
  9. Are there any prepayment penalties or other fees I should be aware of?
  10. What are the consequences of defaulting on the loan?
What are the disadvantages of a business loan in Newton, MA?

There are some potential disadvantages of taking out a business loan in Newton, MA. Here are a few to consider:

  • Interest and fees: Depending on the type of loan you get, you may have to pay high-interest rates and fees, which can increase the overall cost of borrowing.
  • Collateral requirements: Some lenders may require you to put up collateral to secure the loan, such as your business assets or personal property. This can be risky if you default on the loan.
  • Repayment requirements: Business loans come with repayment schedules that you'll need to adhere to, which can put a strain on your cash flow if you're not prepared.
  • Impact on credit score: If you miss payments or default on the loan, it can negatively impact your credit score, making it harder to get credit in the future.
  • Risk of overborrowing: Taking on too much debt can be risky for your business, as it can strain your finances and limit your ability to invest in growth opportunities.

It's important to carefully consider these factors before deciding to take out a business loan and to work with a reputable lender who can help guide you through the process.

How important is a business loan in Newton, MA?

A business loan can be very important in Newton, MA, for a variety of reasons, such as:

  • Starting a new business: A business loan can provide the necessary funding to start a new business in Newton, MA, including buying equipment, hiring employees, and leasing a storefront.
  • Expanding an existing business: If your business is doing well and wants to grow, a business loan can provide the funds to open a new location, hire more employees, or purchase new equipment.
  • Covering operating expenses: Sometimes, businesses experience temporary cash flow problems, and a business loan can provide the funds needed to cover the costs until things improve.
  • Improving credit: Taking out a business loan and making timely payments can help improve your business's credit score, making it easier to obtain financing in the future.

Overall, a business loan can be a valuable tool for growing and sustaining a business in Newton, MA.


What are the benefits of a business loan for a small business in Newton, MA?

As a small business owner in Newton, MA, there are several benefits to taking out a business loan, including:

  • Access to funds: A business loan can provide the necessary funds to start, grow, or sustain your business. This can be especially important for small businesses needing more cash flow or savings to cover unexpected expenses or invest in growth opportunities.
  • Flexibility: Business loans come in various forms, such as term loans, lines of credit, and SBA loans, which can provide flexibility regarding repayment terms and interest rates.
  • Building credit: By taking out and repaying a business loan on time, you can establish and build your business credit, which can be important for future financing and loan applications.
  • Control: Unlike other forms of financing, such as equity financing, taking out a business loan means you retain complete control of your business and its operations.
  • Tax benefits: The interest paid on a business loan can be tax-deductible, which can help reduce your business's tax liability.

It's important to note that while there are many benefits to taking out a business loan, it's crucial to ensure you have a solid repayment plan in place and that you only borrow what you can realistically afford to pay back.

Small business loans available in every city in Massachusetts

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  • Medford

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