Company Gets a New Hampshire SBA Loan
SBA loans in New Hampshire are tough to come by these days. We take a look at one New Hampshire SBA loan, provided by a New Hampshire bank, that was approved by the SBA.
This small business, based in North Woodstock, New Hampshire, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Northway Bank. We've got the inside scoop on this New Hampshire small business loan.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
NORTH WOODSTOCK, NH 03262
SBA Loan Lender
NORTHWAY BANK
9 MAIN ST
BERLIN, NH 03570
This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and are well trained in SBA loan requirements.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7011 - Hotels and Motels
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
1/24/2000
Loan Approval Gross Amount
$119,200
Loan Approval from the SBA
Of the total $119,200 loan amount, the SBA guaranteed $79,864.
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 SBA loan documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans provide money to small business owners for working capital for other expenses.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northway Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northway 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:
Determining Proper Capital Structure for a Business
Find an SBA Lender in Berlin, New Hampshire
New Hampshire SBA 7A Lenders