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May 18, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Keene, Business Loans > Ocean Bank Keene Business Loans > Prepared Fresh Or Frozen Fish And Seafoods Loan | ||||
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Advice for Small Business Owners On Getting a Loan
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Getting an SBA Loan for Fresh and Frozen Seafood ProcessingLooking for business loans for fresh and frozen seafood processing? Talk to a banker who works with the SBA. This $30,000 fresh and frozen seafood processing loan was issued by a New Hampshire bank. This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Ocean Bank, out of Keene, New Hampshire. The loan was granted and they received $30,000 to help grow their Portsmouth, New Hampshire business. SBA Loan Borrower COMPANY TYPE: PREPARED FRESH OR FROZEN FISH AND SEAFOODS SBA Loan Lender OCEAN BANK This was a Low Documentation SBA loan. The SBA created this program to minimize 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. 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 2092 - Prepared Fresh or Frozen Fish and Seafoods NAICS Code 311712 - Fresh and Frozen Seafood Processing Loan Approval Date 1/25/2000 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $24,000. 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 7 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ocean Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ocean Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Bank Loans in Keene, New Hampshire
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