Where to Get Capital for Sewing, Needlework, and Piece Goods Stores
Looking for SBA loans for sewing, needlework, and piece goods stores? Try the SBA. This $60,000 sewing, needlework, and piece goods stores loan was issued by a New Hampshire bank.
Getting a small business loan in Concord, New Hampshire was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Merrimack County Savings Bank, operating out of Bow, New Hampshire. Here are the details on this New Hampshire small business loan.
SBA Loan Borrower
COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES
CONCORD, NH 03301
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
451130 - Sewing, Needlework, and Piece Goods Stores
Loan Approval Date
11/14/2003
Loan Approval Gross Amount
$60,000
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $30,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. The loan application indicated that the funding would help generate 4 new jobs.
Great, But How Can I Get an SBA Loan for My Business?
Many small businesses receive loans backed by the U.S. Small Business Administration.
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 Merrimack County Savings 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.
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