Woodsville, New Hampshire Bank Lends Money to Precision Turned Product Manufacturing Company in Lyndon, Vermont

A Woodsville, New Hampshire SBA loan can be yours. Learn how one firm got a $290,000 business loan from this New Hampshire bank.

This loan to a local firm is a good example of an SBA loan. Woodsville Guaranty Savings Bk made the loan and the SBA guaranteed a portion of the loan. Many other Vermont entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: PRECISION TURNED PRODUCT MANUFACTURING
LYNDON, VT 05851

SBA Loan Lender

WOODSVILLE GUARANTY SAVINGS BK
63 CENTRAL ST
WOODSVILLE, NH 03785

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332721 - Precision Turned Product Manufacturing

Loan Approval Date

2/20/2008

Loan Approval Gross Amount

$290,000

Loan Approval from the SBA

Of the total $290,000 loan amount, the SBA guaranteed $217,500.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Great, But How Can I Get an SBA Loan for My 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Woodsville Guaranty Savings Bk that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Small Business Credit Cards

Best Woodsville, New Hampshire Banks for Small Business

SBA Participating Banks in New Hampshire