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

Get small business loans from a Colebrook, New Hampshire bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

First Colebrook Bank is a Colebrook, New Hampshire small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Hampshire company.

SBA Loan Borrower

COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES
COLEBROOK, NH 03576

SBA Loan Lender

FIRST COLEBROOK BANK
132 MAIN ST
COLEBROOK, NH 03576

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7261 - Funeral Service and Crematories

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

2/12/2002

Loan Approval Gross Amount

$95,900

Loan Approval from the SBA

Of the total $95,900 loan amount, the SBA guaranteed $81,515.

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 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

Related Links:

Accountant's Role in Securing Financing

Banks in Colebrook, New Hampshire

New Hampshire SBA Banks