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December 22, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > Portsmouth, Business Loans > Ocean Bank Portsmouth Business Loans > General Automotive Repair Loan | ||||
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I Need a Business Loan in New Boston, New Hampshire
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Loans for General Automotive RepairLooking for loans for general automotive repair? An SBA loan may be just what you've been looking for. This $387,000 general automotive repair loan was issued by a New Hampshire bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Boston, New Hampshire was able to borrow $387,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $290,250 of this New Hampshire small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender OCEAN BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 3/26/2007 Loan Approval Gross Amount $387,000 Loan Approval from the SBA Of the total $387,000 loan amount, the SBA guaranteed $290,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Ocean Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Microlending as a Small Business Funding Source SBA Participating Banks in Portsmouth, New Hampshire
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