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Are you looking for New Hampshire’s best business loans & startup financing companies? For your small business in the Granite State, many banks, credit unions, & unconventional lenders are offering different loan types. After all, there are 137,800+ small businesses in this state. That is why many lenders operate here, providing entrepreneurs with much-needed funding.

Understand the unique features and benefits of different loan types to empower your business. That’s how you choose the best lender for your business. Also, look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 10 business loans & startup financing options in New Hampshire to get started. Check our reviews of these lenders to decide which one’s the best option for you:

1. Swoop Funding

Swoop Funding is every New Hampshire-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs.

You can access many loan types, including traditional term loans and innovative financing options with a simplified funding process. At Swoop Funding, you can get $5k to $500k as a small business. Moreover, you have to have a credit score of 600+ with the company’s annual revenue being $50k (at least).

Even if it’s been 6 months since you started this business, Swoop will consider your loan application! However, it is important to talk directly to Swoop’s experts to determine your creditworthiness.

2. Northway Bank

The interest rate at the Northway Bank is around 4.64%. But you can get an average amount of over $100,000 as a loan from this prestigious NH-based institution. So, you may open new lines of credit or apply for hefty business loans at the Northway Bank.

3. Meredith Village Savings Bank

At the Meredith Village Savings Bank, the interest rate is just over 5% (on average) but the loan amount can be more than $180,000 (on average). In the bank’s own words, they “offer express term loans and lines of credit from $10k to $100k for qualifying New Hampshire-registered businesses with a simple, secure online application and expedited decision-making and closing process.”

4. Primary Bank New Hampshire

As a New Hampshire-based lender, Primary Bank offers low interest rates (4.87%) with average loan amounts being $487,000. At Primary Bank, they realize that the Granite State is one of the best places to conduct business. That’s why this bank partners with the Small Business Admin (SBA) to provide local entrepreneurs with the financial support they need to thrive in this tiring economy. Both fixed and floating interest rates are available here. So, you can letters of credit, open a new line of credit, or invest in non-owner-occupied commercial real estate.

5. M&T Bank

At the M&T Bank, the average interest rate lies between 4.90% and 5.00%. However, $530,000 is the average loan amount that this bank approved for New Hampshire-based businesses. This bank isn’t based in the Granite State, though. But it does offer you incredible loan amounts that go from $5k to $5 million. It also gives you express loans for smaller loan amounts (up to $500k) so you can access funds quickly.

6. Merrimack Country Savings Bank

The average interest rate here is 4.81% while the average loan amount is around $146k. However, this bank is based in New Hampshire. So, you can expect local decision-making and fast processing at Merrimack Country Savings Bank. Founded in Concord in 1867, it offers you a unique proposition called ezbusiness loan, as per which you can get:

• Expedited process for approval and closing
• ezbusiness Cash Reserve – overdraft line of credit up to $5,000
• ezbusiness Term Loan- term loans from $5,000 to $100,000
• ezbusiness Lines of Credit- revolving lines of credit from $5,000 to $100,000

7. Enterprise Bank & Trust

At Enterprise, the average loan amount is just over 4%. However, the average loan amount is around $210,000. This prestigious institution offers you commercial real estate loans, operating lines of credit, M&A loans, equipment loans, asset-based loans, and much more.

8. TD Bank

The interest rate at this bank is 6.44% (pretty high) while the average payout amount is merely $206k. Even though this bank is based in Maine, it also serves business owners hailing from the Granite State. SBA 7(a) loans up to $5,000,000 with terms up to 25 years are available to start, buy or expand your restaurant franchise business. You may also apply for up to $250k in small business funding to begin your entrepreneurial journey.

9. Eastern Bank

The average interest rate here is almost 6%. Also, $160,000 is the average amount that you can apply for in terms of business funding. Most of its branches are located in Massachusetts since it’s an Old Colony State enterprise (founded more than 200 years ago). However, you can still apply for a loan at the Eastern Bank for your New Hampshire-based business. This bank offers you both SBA 7(a) and 504 loans where the loan amount can’t be more than $5 million.

10. Woodsville Guaranty Savings Bank

The average interest rate available at this bank is 4.87%. On the other hand, the average loan amount is just over a hundred grand. Located in Woodsville, NH, it caters to Granite State small businesses by providing them with the necessary funding for business operations. Here’s what you can get from this lender:

• Term Loans
• Commercial Real Estate Loans
• Agricultural Loans
• Lines of Credit
• Participation in large commercial and community development projects
• Small Business Administration (SBA) Loans
• Letters of Credit

New Hampshire Government Resources

Check out these government resources about business grants/funding and startup financing options in New Hampshire:

• Funding Opportunities for Businesses | NH Department of Energy
• Resources for DHHS Providers, Small Business & Nonprofits
• NH SBDC Granite State Small Business Funding Guide
• Incentives & Grants | Concord, NH
• Help for Entrepreneurs | Nashua, NH

Top Cities in New Hampshire for Business Loans

Curious to know which cities or census-designated places (CDPs) in New Hampshire are the best for business loans & startup financing? If you live in any of these 30 cities, then you can easily access SBA loans or other nontraditional financing means to embark on your entrepreneurial journey:

1. Manchester
2. Nashua
3. Concord
4. Derry
5. Rochester
6. Salem
7. Hudson
8. Keene
9. Laconia
10. Claremont
11. Lebanon
12. Portsmouth
13. Goffstown
14. Merrimack
15. Somersworth
16. Dover
17. Tilton
18. Berlin
19. Franklin
20. Windham
21. Hampton
22. Littleton
23. Pelham
24. Newport
25. Hanover
26. Rindge
27. Jaffrey
28. Brookline
29. Plaistow
30. Milford

Conclusion

Whether you’re a startup owner or founded a well-established business years ago, you have to choose the right financing partner and lender. That’s how you keep your business vessel afloat and key commercial operations running in New Hampshire in this economy.

Now, choose a lender that offers you flexible loan terms and interest rates. Check their online reputation, customer service, interest rates, and other factors. If something needs to be clarified, get in touch with Sophisticated Investor to understand how to get your entrepreneurial dreams funded quickly. That’s how you can take your business to new heights of success.