New Hampshire Small Business Loan Issued to General Merchandise Stores Company

Bank loans in New Hampshire are tough to come by these days. We take a look at one New Hampshire bank loan, provided by a New Hampshire bank, that was approved by the SBA.

This business, based in Westmoreland, New Hampshire, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Ocean Bank. We've got the inside scoop on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
WESTMORELAND, NH 03467

SBA Loan Lender

OCEAN BANK
122 WEST ST
KEENE, NH 03431

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5399 - General Merchandise Stores

NAICS Code

452910 - Warehouse Clubs and Superstores

Loan Approval Date

7/19/2002

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $135,000. How would you spend $135,000 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:

Business Cash Advances

Good Banks for Small Business in Keene, New Hampshire

SBA Participating Banks in New Hampshire