Portsmouth, New Hampshire Business Gets SBA-Guaranteed Funding from Kennebunk Savings Bank
Kennebunk Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Hampshire entrepreneur was able to get a loan to take a small business to the next level.
This growing company knew how to go about getting a business bank loan. Based in Portsmouth, New Hampshire, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Kennebunk Savings Bank, based in Kennebunk, Maine.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
PORTSMOUTH, NH 03802
SBA Loan Lender
KENNEBUNK SAVINGS BANK
104 MAIN ST
KENNEBUNK, ME 04043
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
722110 - Full-Service Restaurants
Loan Approval Date
2/22/2007
Loan Approval Gross Amount
$401,400
Loan Approval from the SBA
Of the total $401,400 loan amount, the SBA guaranteed $301,050.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 21 employees. The loan application indicated that the loan would help retain 21 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
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Getting an SBA Loan in Maine