Loan to Buy Decorating Den System Franchise Issued By Ocean Bank

Borrowing money to buy a Decorating Den System franchise? Ocean Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Merrimack, New Hampshire needed money to invest in a Decorating Den System franchise back in 2003. Ocean Bank issued an SBA franchise loan. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

DECORATING DEN SYSTEMS, INC.
MERRIMACK, NH 03054

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

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

7371 - Computer Programming Services

NAICS Code

541410 - Interior Design Services

Loan Approval Date

1/3/2003

Loan Approval Gross Amount

$66,500

Loan Approval from the SBA

Of the total $66,500 loan amount, the SBA guaranteed $56,525.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Decorating Den System franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

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

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $66,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 From a Venture Capitalist

SBA Participating Banks in Portsmouth, New Hampshire

SBA Lenders in New Hampshire