Landscape Architectural Services Commercial Loans
Looking for commercial loans for landscape architectural services? Try the SBA. This $86,000 landscape architectural services loan was issued by a Massachusetts bank.
This business knew how to go about getting a business bank loan. Based in Northboro, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Avidia Bank, based in Westborough, Massachusetts.
SBA Loan Borrower
COMPANY TYPE: LANDSCAPE COUNSELING AND PLANNING
NORTHBORO, MA 01532
SBA Loan Lender
AVIDIA BANK
100 E MAIN ST
WESTBOROUGH, MA 01581
This was a Low Documentation SBA loan. The SBA launched this program to limit 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. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
0781 - Landscape Counseling and Planning
NAICS Code
541320 - Landscape Architectural Services
Loan Approval Date
2/2/2000
Loan Approval Gross Amount
$86,000
Loan Approval from the SBA
Of the total $86,000 loan amount, the SBA guaranteed $68,800.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 20 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Borrowing Money from Friends and Family
SBA 7A Banks for Westborough, Massachusetts Loans
Find an SBA Lender in Massachusetts