Small Business Loans for Machine Shops

Looking for small business loans for machine shops? The SBA may be the answer. This $50,000 machine shops loan was issued by a New Hampshire bank.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Ocean Bank, out of Portsmouth, New Hampshire. The loan was granted and they received $50,000 to help grow their Londonderry, New Hampshire business.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
Londonderry, NH 03053

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

332710 - Machine Shops

Loan Approval Date

1/23/2007

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 existing jobs.

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

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ocean Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ocean 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:

Small Business Credit Cards

Best Portsmouth, New Hampshire Banks for Small Business

Getting an SBA Loan in New Hampshire