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May 15, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Haverhill, Business Loans > Pentucket Bank Haverhill Business Loans > Lawn And Garden Services Loan | ||||
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What Does It Take to Get a Business Loan in Haverhill, Massachusetts?
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Commercial Loans for Landscaping ServicesLooking for commercial loans for landscaping services? Talk to a banker who works with the SBA. This $15,000 landscaping services loan was issued by a Massachusetts bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Haverhill, Massachusetts was able to borrow $15,000 from Pentucket Bank. The SBA made the loan possible by guaranteeing $12,750 of this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: LAWN AND GARDEN SERVICES SBA Loan Lender PENTUCKET BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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. SIC Code 0782 - Lawn and Garden Services NAICS Code 561730 - Landscaping Services Loan Approval Date 4/15/2003 Loan Approval Gross Amount $15,000 Loan Approval from the SBA Of the total $15,000 loan amount, the SBA guaranteed $12,750. 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 2 employees. This SBA loan request did not indicate that the company planned to use the funding to add 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pentucket Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Getting Venture Capital SBA Approved Banks in Haverhill, Massachusetts
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