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November 21, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Portsmouth, Business Loans > Ocean Bank Portsmouth Business Loans > Household Furniture Manufacturing Loan | ||||
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Who Lends Money to Candia (candia Depot) Businesses
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Local Business Gets a New Hampshire Business LoanWant a New Hampshire business loan? This New Hampshire entrepreneur got a business loan, provided by a New Hampshire bank that works with the SBA to help small business owners. By giving the right information to Ocean Bank, this Candia (candia Depot), New Hampshire business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: HOUSEHOLD FURNITURE MANUFACTURING SBA Loan Lender OCEAN BANK The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 337125 - Household Furniture Manufacturing Loan Approval Date 7/15/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $100,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 27 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 37 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ocean Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ocean 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: SBA 7A Banks in Portsmouth, New Hampshire
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