Bow, New Hampshire Bank Lends Money to Motor Vehicle Body Manufacturing Company in Candia (candia Depot), New Hampshire

Get to know Bow, New Hampshire banks that specialize in SBA loans and know how to work with entrepreneurs. Merrimack County Savings Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Candia (candia Depot), New Hampshire starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Merrimack County Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE BODY MANUFACTURING
CANDIA (CANDIA DEPOT), NH 03034

SBA Loan Lender

MERRIMACK COUNTY SAVINGS BANK
503 SOUTH ST
BOW, NH 03304

This lender processed this 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

336211 - Motor Vehicle Body Manufacturing

Loan Approval Date

12/23/2005

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $130,000.

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 11 employees. The SBA loan documents indicated that the loan would help retain 11 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.

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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