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November 15, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Hanover, Business Loans > Ledyard National Bank Hanover Business Loans > Personal Services Loan | ||||
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Getting a Small Business Loan from Ledyard National Bank
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Hanover, New Hampshire Business Gets SBA-Guaranteed Funding from Ledyard National BankLedyard National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Hampshire entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Hanover, New Hampshire, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Ledyard National Bank, based in Hanover, New Hampshire. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender LEDYARD NATIONAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7299 - Personal Services NAICS Code 812199 - Personal Care Services Loan Approval Date 11/1/2001 Loan Approval Gross Amount $52,000 Loan Approval from the SBA Of the total $52,000 loan amount, the SBA guaranteed $44,200. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $52,000 loan. Remember, if it to be, it is up to me! 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: SBA 7A Banks for Hanover, New Hampshire Loans
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