Borrowing Money for Cut and Sew Apparel Manufacturing

Looking for bank loans for cut and sew apparel manufacturing? The SBA may be the answer. This $220,000 cut and sew apparel manufacturing loan was issued by a New Hampshire bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conway, New Hampshire was able to borrow $220,000 from Northway Bank. The SBA made the loan possible by guaranteeing $165,000 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: CUT AND SEW APPAREL MANUFACTURING
CONWAY, NH 03818

SBA Loan Lender

NORTHWAY BANK
9 MAIN ST
BERLIN, NH 03570

This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

315299 - Cut and Sew Apparel Manufacturing

Loan Approval Date

6/25/2002

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

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 25 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Northway Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Realistic Debt Financing Options

Banks in Berlin, New Hampshire

New Hampshire SBA Bank Lenders