New Hampshire Business Loan Issued to Limited-Service Restaurants Company

Bank loans in New Hampshire are are few and far betweeen these days. We take a look at one New Hampshire bank loan, provided by a New Hampshire bank, that was approved by the SBA.

This small business, based in Concord, New Hampshire, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Merrimack County Savings Bank. We've got the inside scoop on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CONCORD, NH 03301

SBA Loan Lender

MERRIMACK COUNTY SAVINGS BANK
503 SOUTH ST
BOW, NH 03304

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722211 - Limited-Service Restaurants

Loan Approval Date

5/22/2003

Loan Approval Gross Amount

$56,000

Loan Approval from the SBA

Of the total $56,000 loan amount, the SBA guaranteed $28,000.

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 SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Merrimack County Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Merrimack County Savings 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.

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