Getting an SBA Loan for Cut and Sew Apparel Manufacturing

With these commercial loans for cut and sew apparel manufacturing, the SBA guarantees the lender that the loan will be repaid. This cut and sew apparel manufacturing loan for $290,000 was given to a New Hampshire entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Conway, New Hampshire was able to borrow $290,000 from Northway Bank. The SBA made the loan possible by guaranteeing $217,500 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
3278 WHITE MTN HWY, RTE 16
NORTH CONWAY, NH 02130

This lender issued this debt financing 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

4/13/2005

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

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 25 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Small Business Loan

Best North Conway, New Hampshire Banks for Small Business

Find an SBA Lender in New Hampshire