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November 15, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Manchester, Business Loans > Rbs Citizens Manchester Business Loans > Industrial Machinery And Equipment Merchant Wholesalers Loan | ||||
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What Does It Take to Get a Business Loan in Dover, New Hampshire?
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Industrial Machinery and Equipment Merchant Wholesalers Commercial LoansWith these commercial loans for industrial machinery and equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial machinery and equipment merchant wholesalers loan for $50,000 was given to a New Hampshire entrepreneur in 2004. This small business knew how to go about getting a business bank loan. Based in Dover, New Hampshire, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Rbs Citizens, based in Manchester, New Hampshire. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender RBS CITIZENS The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 423830 - Industrial Machinery and Equipment Merchant Wholesalers Loan Approval Date 5/6/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 only one employee. The loan application indicated that the loan would help retain 1 existing job. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Obtaining Funding - How to Decide How Much to Raise Best Manchester, New Hampshire Banks for Small Business SBA Participating Banks in New Hampshire
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