SBA Loan from 1st National Bank - Ipswich Helps Full-Service Restaurants Company

1st National Bank - Ipswich is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Hampshire entrepreneur who tapped into the power of SBA loans.

This small firm 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 1st National Bank - Ipswich, based in Portsmouth, New Hampshire.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PORTSMOUTH, NH 03801

SBA Loan Lender

1ST NATIONAL BANK - IPSWICH
77 HANOVER ST
PORTSMOUTH, NH 03801

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/28/2007

Loan Approval Gross Amount

$127,200

Loan Approval from the SBA

Of the total $127,200 loan amount, the SBA guaranteed $108,120.

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 14 employees. The loan application indicated that the loan would help retain 14 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $127,200 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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SBA Participating Banks in Portsmouth, New Hampshire

New Hampshire SBA 7A Lenders