Business Loan from Ocean Bank Given to Retail Bakeries Company

An SBA loan from Ocean Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Plaistow, New Hampshire business owner got a $14,400 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Plaistow, New Hampshire was able to borrow $14,400 from Ocean Bank. The SBA made the loan possible by guaranteeing $7,200 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
Plaistow, NH 03865

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

311811 - Retail Bakeries

Loan Approval Date

9/29/2005

Loan Approval Gross Amount

$14,400

Loan Approval from the SBA

Of the total $14,400 loan amount, the SBA guaranteed $7,200.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 borrowed money would help generate 4 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $14,400. How would you spend $14,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Family and Friend Investors - Your First Financiers

Banks in Portsmouth, New Hampshire

Getting an SBA Loan in New Hampshire