Getting an SBA Loan for Baked Goods Stores

Looking for business loans for baked goods stores? An SBA loan may be just what you've been looking for. This $45,000 baked goods stores loan was issued by a Massachusetts bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Ipswich, New Hampshire was able to borrow $45,000 from North Middlesex Savings Bank. The SBA made the loan possible by guaranteeing $38,250 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
NEW IPSWICH, NH 03071

SBA Loan Lender

NORTH MIDDLESEX SAVINGS BANK
7 MAIN ST
AYER, MA 01432

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

5/15/2001

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in New Ipswich NH, you ought to talk with a local New Ipswich SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Ipswich businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like North Middlesex Savings Bank and they will explain how you can get an SBA loan for your company.

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.

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