Barrington (east Barrington), New Hampshire Business Gets SBA-Guaranteed Funding from Rbs Citizens

An SBA loan from Rbs Citizens typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Barrington (east Barrington), New Hampshire business owner got a $3,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Barrington (east Barrington), New Hampshire was able to borrow $3,000 from Rbs Citizens. The SBA made the loan possible by guaranteeing $1,500 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL BUILDING CONSTRUCTION
BARRINGTON (EAST BARRINGTON), NH 03825

SBA Loan Lender

RBS CITIZENS
725 CANTON ST
NORWOOD, MA 02062

This lender processed this SBA business 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

236210 - Industrial Building Construction

Loan Approval Date

3/28/2003

Loan Approval Gross Amount

$3,000

Loan Approval from the SBA

Of the total $3,000 loan amount, the SBA guaranteed $1,500.

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 SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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