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May 1, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Portsmouth, Business Loans > Ocean Bank Portsmouth Business Loans > Jrm Rentals, Inc. Loan | ||||
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Loans to Buy a Franchise in New Hampshire
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Manchester, NH Entrepreneur Gets SBA Loan to Buy Premier Rental Purchase FranchiseBorrowing money to invest in a Premier Rental Purchase franchise? Ocean Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Manchester, New Hampshire and are interested in buying a Premier Rental Purchase franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by Ocean Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower JRM RENTALS, INC. SBA Loan Lender OCEAN BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532310 - General Rental Centers Loan Approval Date 8/20/2007 Loan Approval Gross Amount $492,000 Loan Approval from the SBA Of the total $492,000 loan amount, the SBA guaranteed $369,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Premier Rental Purchase franchise. At the time of the loan, the company had no employees. The SBA loan application for the borrower indicated that the funding would help create 5 new jobs. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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: SBA 7A Banks in Portsmouth, New Hampshire
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