Commercial Loans for Store Retailers

With these commercial loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $175,000 was given to a New Hampshire entrepreneur in 2006.

Getting a small business loan in Plaistow, New Hampshire was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Ocean Bank, operating out of Portsmouth, New Hampshire. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
Plaistow, NH 03865

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

453998 - Store Retailers

Loan Approval Date

3/13/2006

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $87,500.

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 4 employees. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 $175,000 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.

Related Links:

SBIR Funding

Good Banks for Small Business in Portsmouth, New Hampshire

SBA Participating Banks in New Hampshire