Entrepreneur Works With Portsmouth, New Hampshire Bank to Get an SBA Loan

Thinking about meeting with a Portsmouth, New Hampshire bank about an SBA loan? Here's one New Hampshire business loan, issued by a Portsmouth bank, that was approved by the SBA.

Applying for an SBA loan with Ocean Bank worked out well for our friends at one local firm in Amherst, New Hampshire. The business was able to get an SBA loan for $130,000. Nice!

SBA Loan Borrower

COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION
Amherst, NH 03031

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

236115 - New Single-Family Housing Construction

Loan Approval Date

7/15/2005

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $97,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing 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 Ocean 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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