Portsmouth, New Hampshire Lender Lends Money to Electrical Apparatus And Equipment, Wiring Supplies, And Related Equipment Company

Get business loans from a Portsmouth, New Hampshire bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Ocean Bank is a Portsmouth, New Hampshire small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Hampshire company.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS AND EQUIPMENT, WIRING SUPPLIES, AND RELATED EQUIPMENT
SALEM, NH 03079

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

423610 - Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

Loan Approval Date

8/29/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 9 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to find other ways to get money to start a business, 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:

Role of Business Plan When Raising Money

SBA Approved Banks in Portsmouth, New Hampshire

New Hampshire SBA Bank Lenders