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May 14, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Portsmouth, Business Loans > Ocean Bank Portsmouth Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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Ocean Bank
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Business Loan from Ocean Bank Given to Automotive Parts And Accessories Stores CompanyAn SBA loan from Ocean Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hooksett, New Hampshire business owner got a $47,600 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hooksett, New Hampshire was able to borrow $47,600 from Ocean Bank. The SBA made the loan possible by guaranteeing $23,800 of this New Hampshire small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender OCEAN BANK 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 441310 - Automotive Parts and Accessories Stores Loan Approval Date 5/5/2006 Loan Approval Gross Amount $47,600 Loan Approval from the SBA Of the total $47,600 loan amount, the SBA guaranteed $23,800. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Ocean Bank and they will explain how you can get an SBA loan for your company. 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 Portsmouth, New Hampshire Find an SBA Lender in New Hampshire
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