Personal Services Commercial Loans

With these commercial loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $47,920 was given to a Massachusetts entrepreneur in 2004.

Getting a small business loan in North Chelmsford, Massachusetts was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Enterprise Bank & Trust, operating out of Westford, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
NORTH CHELMSFORD, MA 01824

SBA Loan Lender

ENTERPRISE BANK & TRUST
237 LITTLETON RD
WESTFORD, MA 01886

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

11/3/2004

Loan Approval Gross Amount

$47,920

Loan Approval from the SBA

Of the total $47,920 loan amount, the SBA guaranteed $40,732.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

Related Links:

Role of Business Plan When Raising Money

Small Business Banks in Westford, Massachusetts

Getting an SBA Loan in Massachusetts