Merrimack County Savings Bank Gives SBA Loan to Construction And Mining Machinery And Equipment Merchant Company

Small business loans in New Hampshire are tough to come by these days. We take a look at one New Hampshire small business loan, provided by a New Hampshire bank, that was approved by the SBA.

Getting a small business loan in Weare, New Hampshire was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Merrimack County Savings Bank. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT
WEARE, NH 03281

SBA Loan Lender

MERRIMACK COUNTY SAVINGS BANK
503 SOUTH ST
BOW, NH 03304

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423810 - Construction and Mining Machinery and Equipment Merchant

Loan Approval Date

12/23/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 18 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

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