Manchester businesses received almost $6.8 million in SBA loans this year

Sign Up For Our FREE Daily eNews!

Golden Corral on South Willow Street received $2.7 million from the US SBA. Photo/Carol Robidoux

CONCORD, N.H. – This month, the U.S. Small Business Administration announced that it has distributed $210,805,900 worth of loans to 550 New Hampshire small businesses over the past fiscal year, including just under $6.8 million to Manchester-based businesses.

Nationwide, $36.5 billion in 7(a) loans were provided to small businesses with another $8.2 billion in 504 loans and $71.8 million in microloans.

7(a) loans are used for working capital, refinancing and inventory among other things. 504 loans are generally used for capital expenditures such as facility upgrades or large machinery.

“The success of SBA loan programs in New Hampshire is thanks to our wonderful partnerships with local and national lenders that help us provide greater access to capital for our small businesses,” said SBA New Hampshire District Director Amy Bassett. “We see many small businesses recovering inNew Hampshire but remain mindful that many continue to struggle with the ongoing economic impacts from the pandemic. With continued enhancements to our lending programs and the ongoing commitment from our lending partners, we hope to build on the achievements of the past year and aid many more entrepreneurs in the coming year.”

A list of Manchester-based businesses receiving loans can be found below.

BORROWER NAMECITYLOAN AMOUNTNAICS TEXT
Kasa Industries, LtdManchester500,000Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesaler
Edgars Landscape Services IncManchester45,000Landscaping Services
Lowell A Hart Insurance AgencyManchester186,400Insurance Agencies and Brokerages
SK Investment, Inc.Manchester105,000Convenience Stores
Anchor Pest Services, IncManchester100,000Exterminating and Pest Control Services
Dow Street Studio, LLCManchester130,000Photography Studios, Portrait
Launch Theory, LLCManchester100,000Custom Computer Programming Services
Laundry Lake, LLCManchester348,000Coin-Operated Laundries and Drycleaners
Mill LLC Manchester MusicManchester750,000Musical Instrument and Supplies Stores
Mill LLC Manchester MusicManchester250,000Musical Instrument and Supplies Stores
Skeeter Shine, LLCManchester 38,000 Distilleries
Games On, LLCManchester 25,000 Amusement Arcades
Jumpp Chiropractic LLCManchester 35,000 Offices of Chiropractors
Tenacity LLCManchester634,500Offices of Certified Public Accountants
Timothy Gosselin or NomineeManchester362,000Full-Service Restaurants
Edgars Landscape Services IncManchester174,000Landscaping Services
GPS SOLUTIONS INCManchester 99,900 Other Gasoline Stations
Manchester Child Development Center, LLCManchester 50,000 Child Day Care Services
D.R. Biron, Inc.Manchester250,000Commercial Gravure Printing
Golden Corral ManchesterManchester2,750,000Full-Service Restaurants

The New Hampshire Community Development Finance Authority was also selected to receive a $2.5 million grant to launch a Community Navigator Pilot Program.

Funded through American Rescue Plan funding, the Community Navigator Program aims to provide $100 million to 51 organizations owned by veterans, women, people of color, those in rural communities and other groups that face hardships in accessing financial support.

“I am thrilled that the Community Development Finance Authority (CDFA) was selected after a competitive process to receive a $2.5 million grant to launch SBA’s Community Navigator Pilot Program in New Hampshire,” said Bassett. “With this funding, through a hub and spoke model, CDFA will support New Hampshire-based entrepreneurs, focusing on underserved and rural communities.  The NH SBA looks forward to building a close collaboration with CDFA as they develop a program that will aid New Hampshire small business in accessing the critical resources they need to start, grow, build resiliency and thrive.”

About this Author

andrewsylvia

Andrew Sylvia

Assistant EditorManchester Ink Link

Born and raised in the Granite State, Andrew Sylvia has written approximately 10,000 pieces over his career for outlets across Massachusetts, New Hampshire and Vermont. On top of that, he's a licensed notary and licensed to sell property, casualty and life insurance, he's been a USSF trained youth soccer and futsal referee for the past six years and he can name over 60 national flags in under 60 seconds according to that flag game app he has on his phone, which makes sense because he also has a bachelor's degree in geography (like Michael Jordan). He can also type over 100 words a minute on a good day.