SBA Loan from First Colebrook Bank Helps Full-Service Restaurants Company

An SBA loan from First Colebrook Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Northwood, New Hampshire business owner got a $304,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Northwood, New Hampshire was able to borrow $304,000 from First Colebrook Bank. The SBA made the loan possible by guaranteeing $228,000 of 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

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide loans to American small businesses.

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

$304,000

Loan Approval from the SBA

Of the total $304,000 loan amount, the SBA guaranteed $228,000.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you need seed money for a small 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.

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