SBA Loan from Salem Five Cents Savings Bank Helps Amusement And Recreation Industries Company

An SBA loan from Salem Five Cents Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Litchfield, New Hampshire business owner got a $425,000 loan.

Getting a small business loan in Litchfield, New Hampshire was an essential business goal for this company back in 2008 and, based on their loan application, they were successful in getting an SBA loan from Salem Five Cents Savings Bank, operating out of Salem, Massachusetts. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES
LITCHFIELD, NH 03052

SBA Loan Lender

SALEM FIVE CENTS SAVINGS BANK
210 ESSEX ST
SALEM, MA 01970

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

1/16/2008

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 550 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 50 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 $425,000 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:

Getting a Small Business Loan

Best Banks for Small Business in Salem, Massachusetts

SBA Lenders in Massachusetts