Berlin, New Hampshire Bank Lends Money to Hotels And Motels Company in Littleton, New Hampshire

Thinking about meeting with a Berlin, New Hampshire bank about a business loan? Here's one New Hampshire business loan, issued by a Berlin bank, that was approved by the SBA.

Applying for an SBA loan with Northway Bank worked out well for our friends at one local company in Littleton, New Hampshire. The business was able to get an SBA loan for $50,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
LITTLETON, NH 03561

SBA Loan Lender

NORTHWAY BANK
9 MAIN ST
BERLIN, NH 03570

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

721110 - Hotels and Motels

Loan Approval Date

1/19/2006

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northway Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northway Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Borrow Money

SBA Participating Banks in Berlin, New Hampshire

Getting an SBA Loan in New Hampshire