Milford, NH Entrepreneur Gets SBA Loan to Buy General Nutrition Center Franchise

Need money to invest in a General Nutrition Center franchise? Bank Of New England has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Milford, New Hampshire needed money to invest in a General Nutrition Center franchise back in 2000. Bank Of New England issued an SBA franchise loan. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

GENERAL NUTRITION CENTER
MILFORD, NH 03055

SBA Loan Lender

BANK OF NEW ENGLAND
177 SOUTH RIVER RD
BEDFORD, NH 03110

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5122 - Drugs, Drug Proprietaries, and Druggists' Sundries

NAICS Code

422210 - Drugs and Druggists' Sundries Wholesalers

Loan Approval Date

5/11/2000

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $56,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a General Nutrition Center franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

General Nutrition Centers / GNC Live Well

Dealing With Venture Capitalists

Banks in Bedford, New Hampshire

New Hampshire SBA Bank Lenders