Financing for Automotive Parts and Accessories Stores
With these commercial loans for automotive parts and accessories stores, the SBA guarantees the lender that the loan will be repaid. This automotive parts and accessories stores loan for $270,000 was given to a New Hampshire entrepreneur in 2007.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Colebrook (census Name For Col, New Hampshire was able to borrow $270,000 from First Colebrook Bank. The SBA made the loan possible by guaranteeing $135,000 of this New Hampshire small business loan.
SBA Loan Borrower
COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
COLEBROOK (CENSUS NAME FOR COL, NH 03576
SBA Loan Lender
FIRST COLEBROOK BANK
132 MAIN ST
COLEBROOK, NH 03576
This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
441310 - Automotive Parts and Accessories Stores
Loan Approval Date
3/13/2007
Loan Approval Gross Amount
$270,000
Loan Approval from the SBA
Of the total $270,000 loan amount, the SBA guaranteed $135,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $270,000 loan. Remember, if it to be, it is up to me!
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:
Attracting Investors
SBA Participating Banks in Colebrook, New Hampshire
SBA New Hampshire Banks