Laconia, New Hampshire Business Gets SBA-Guaranteed Funding from Northway Bank

An SBA loan from Northway Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Laconia, New Hampshire business owner got a $75,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Laconia, New Hampshire was able to borrow $75,000 from Northway Bank. The SBA made the loan possible by guaranteeing $63,750 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCTS
LACONIA, NH 03246

SBA Loan Lender

NORTHWAY BANK
9 MAIN ST
BERLIN, NH 03570

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3499 - Fabricated Metal Products

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

4/2/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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 6 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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