Entrepreneur Works With Bow, New Hampshire Bank to Get an SBA Loan

Thinking about meeting with a Bow, New Hampshire bank about a business loan? Here's one New Hampshire business loan, issued by a Bow bank, that was approved by the SBA.

Applying for an SBA loan with Merrimack County Savings Bank worked out well for our friends at one local firm in Pembroke, New Hampshire. The business was able to get an SBA loan for $800,000. Great job!

SBA Loan Borrower

COMPANY TYPE: PREFABRICATED WOOD BUILDINGS AND COMPONENTS
PEMBROKE, NH 03275

SBA Loan Lender

MERRIMACK COUNTY SAVINGS BANK
503 SOUTH ST
BOW, NH 03304

This lender issued this 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 was started 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.

SIC Code

2452 - Prefabricated Wood Buildings and Components

NAICS Code

321992 - Prefabricated Wood Building Manufacturing

Loan Approval Date

6/7/2001

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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 110 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Merrimack County Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Merrimack County Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Alternative Financing

SBA 7A Banks in Bow, New Hampshire

New Hampshire SBA Banks