Northwood, New Hampshire Entrepreneur Gets a Small Business Loan

New HampshireBusiness loans are available to New Hampshire business owners through the SBA. In this case, a New Hampshire bank provides the loan.

This small business, based in Northwood, New Hampshire, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Colebrook Bank. We've got the inside scoop on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NORTHWOOD, NH 03261

SBA Loan Lender

FIRST COLEBROOK BANK
132 MAIN ST
COLEBROOK, NH 03576

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/18/2001

Loan Approval Gross Amount

$496,000

Loan Approval from the SBA

Of the total $496,000 loan amount, the SBA guaranteed $372,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 100 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 First Colebrook 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.

Related Links:

Raising Venture Capital

SBA Participating Banks in Colebrook, New Hampshire

New Hampshire SBA Banks