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November 15, 2024 |
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| Home > Small Business Lenders by State > New Hampshire Business Loan Sources > South Burlington, Business Loans > The Merchants Bank South Burlington Business Loans > Paint And Wallpaper Stores Loan | ||||
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Small Business Loans from The Merchants Bank
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SBA Loan from The Merchants Bank Helps Paint And Wallpaper Stores CompanyThe Merchants Bank 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in West Lebanon, New Hampshire was able to borrow $50,000 from The Merchants Bank. The SBA made the loan possible by guaranteeing $42,500 of this New Hampshire small business loan. SBA Loan Borrower COMPANY TYPE: PAINT AND WALLPAPER STORES SBA Loan Lender THE MERCHANTS BANK This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 444120 - Paint and Wallpaper Stores Loan Approval Date 12/30/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. 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 12 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We've showcased information on this loan to let you know that businesses like yours 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: Realistic Debt Financing Options Good Banks for Small Business in South Burlington, Vermont
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