Borrowing Money for Direct Selling Establishments

With these bank loans for direct selling establishments, the SBA guarantees the lender that the loan will be repaid. This direct selling establishments loan for $90,000 was given to a New Hampshire entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Chichester, New Hampshire, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First Colebrook Bank, based in Concord, New Hampshire.

SBA Loan Borrower

COMPANY TYPE: MEAT AND FISH MARKET
CHICHESTER, NH 03258

SBA Loan Lender

FIRST COLEBROOK BANK
100 LOUDON RD
CONCORD, NH 03301

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5421 - Meat and Fish Market

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

11/27/2001

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Colebrook Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Find Start-Up Capital

Where to Get an SBA Loan in Concord, New Hampshire

New Hampshire SBA Bank Lenders