Business Loan from Enterprise Bank & Trust Given to Personal Services Company

Enterprise Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Hampshire entrepreneur was able to get a loan to take a small business to the next level.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Enterprise Bank & Trust, out of Westford, Massachusetts. The loan was granted and they received $150,000 to help grow their Nashua, New Hampshire business.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
NASHUA, NH 03063

SBA Loan Lender

ENTERPRISE BANK & TRUST
237 LITTLETON RD
WESTFORD, MA 01886

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Enterprise Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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