BUSINESS FINANCING · NH

Small Business Financing in Hillsborough County, New Hampshire: A Practical Guide for Solo Contractors and Small Investors

This guide walks solo contractors, small real-estate investors, and micro-business owners through the financing landscape in Hillsborough County, New Hampshire. It highlights local CDFIs, credit unions, and SBA-connected lenders that actually serve Manchester, Nashua, and surrounding communities. You will learn what documents you need, what programs are available for ITIN holders and newer businesses, and what warning signs to watch for when choosing a lender. Origen Capital is a directory — we help you find the right door, not lend money ourselves.

§ 01 — What it is

What Is Small Business Financing?

Small business financing is money you borrow — or receive as a grant — to start, grow, or stabilize a business. For solo contractors and small real-estate investors in Hillsborough County, this typically means one of four things: • A term loan: a lump sum you repay over months or years with interest. • A line of credit: a flexible pool of money you draw from and repay as needed. • Equipment or vehicle financing: a loan tied to a specific asset, which often serves as collateral. • Microloans: smaller loans (usually under $50,000) designed for newer or smaller businesses that may not qualify for traditional bank products. Grants also exist, though they are competitive and usually tied to specific industries or demographics. Many local programs in New Hampshire blend a grant with a low-interest loan to reduce your overall cost of capital. The most important thing to understand is that financing is a tool, not a lifeline. The right loan at the right time strengthens your business. The wrong loan at the wrong time creates stress. This guide focuses on giving you enough information to have an informed, confident conversation with a lender — without pressure.

§ 02 — Who qualifies

Who Qualifies? Local Eligibility in Hillsborough County

Hillsborough County is New Hampshire's most populous county, anchored by Manchester and Nashua — the state's two largest cities — plus smaller communities like Milford, Merrimack, Bedford, and Goffstown. The regional economy includes construction trades, healthcare, light manufacturing, retail, food service, and a growing tech and logistics sector. Real-estate investment activity is active across the county, particularly in the Manchester and Nashua corridors. Qualification standards vary by lender, but here is a realistic picture for this market: • Startups (under 2 years): Most conventional banks want at least 2 years of business history. CDFIs and microloan programs in New Hampshire are specifically designed to work with newer businesses. If you are in your first year, focus on CDFI and microloan options first. • Solo contractors and self-employed workers: Lenders will look at your Schedule C (from your federal tax return) or profit-and-loss statements. Consistent income matters more than a business license. • ITIN holders: Several lenders in and near Hillsborough County work with Individual Taxpayer Identification Numbers instead of Social Security Numbers. This is not charity — it is a legitimate lending market. See Section 4 for specific resources. • Real-estate investors: Lenders treat investment property differently from owner-occupied homes. Expect questions about your debt-service coverage ratio (how well your rental income covers the loan payment). Local lenders familiar with the Manchester and Nashua markets are often more practical to work with than national online lenders who do not understand local rent levels or vacancy rates. • Credit: A score below 650 is not automatic disqualification in the CDFI and credit union world, especially if you can show stable income and a clear repayment plan.

§ 03 — What you need

Documents You Will Typically Need

Gathering your documents before you approach a lender saves time and signals that you are prepared. The exact list varies, but most lenders serving Hillsborough County small businesses will ask for some combination of the following: For your business: • 2–3 years of business tax returns (or 1 year for newer businesses) • Current profit-and-loss statement and balance sheet • 3–6 months of business bank statements • Business licenses or registrations (New Hampshire requires most businesses to register with the Secretary of State) • A brief business plan or written explanation of how you will use the funds and repay them For you personally: • 2 years of personal tax returns • Government-issued ID (passport, state ID, or matricula consular) • ITIN or Social Security Number • Personal bank statements (2–3 months) • A personal financial statement listing your assets and debts For real-estate investors: • Lease agreements and rent rolls if you already have tenants • A property appraisal or recent purchase/sale comps • Current mortgage statement(s) on any existing properties • Proof of insurance Tip: New Hampshire does not have a state income tax on wages, but it does tax interest and dividend income (the Interest and Dividends Tax is being phased out — it ends fully after 2024). Lenders familiar with New Hampshire will not expect a state income tax return for most small-business owners, but they will expect your federal return.

§ 04 — Where to start in Hillsborough County

Local Lenders, CDFIs, Credit Unions, and SBA Resources That Serve Hillsborough County

This is the most important section of the guide. The organizations listed here are local or regionally rooted intermediaries — they understand the Hillsborough County market and, in many cases, are specifically designed to serve borrowers that conventional banks often overlook. --- CDFIs and Microloan Intermediaries --- • NH Community Loan Fund (Concord, NH — serves all of Hillsborough County) One of New Hampshire's most active CDFIs. Offers business loans from roughly $5,000 to $250,000, with flexible underwriting that looks at the whole picture, not just your credit score. Also has programs for manufactured housing and affordable rental properties. Website: nhclf.org • CEI (Coastal Enterprises, Inc.) — serves NH including Hillsborough County A Maine-based CDFI with active New Hampshire lending. Focuses on small businesses, natural-resource businesses, and affordable housing developers. Good option for contractors and small real-estate investors who have been turned down by a bank. • SBA Microloan Program (through local intermediaries) The federal SBA Microloan Program provides loans up to $50,000 through approved nonprofit intermediaries — not directly from the SBA. In New Hampshire, NH Community Loan Fund and similar organizations are the local access point. These loans are designed for startups and small businesses that need capital but do not yet qualify for a conventional bank loan. --- SBA District Office --- • SBA New Hampshire District Office (Manchester, NH) Located at 55 Pleasant Street, Suite 3101, Manchester, NH 03101. This office covers all of New Hampshire, including Hillsborough County. They do not lend money directly but can refer you to SBA-preferred lenders, help you prepare for an SBA 7(a) or 504 loan, and connect you to free technical assistance through SCORE and SBDC. Phone: (603) 225-1400. • NH Small Business Development Center (NH SBDC) Free, confidential business advising available at multiple locations, including the Southern NH region that serves Hillsborough County. SBDC advisors can help you prepare financials, review loan applications, and connect you with the right lender. Website: nhsbdc.org • SCORE Manchester/Nashua Chapter Free mentoring from experienced business owners and retired executives. Particularly useful if you are putting together a business plan or trying to understand your loan options for the first time. scorenewengland.org --- Local and Regional Credit Unions --- • Service Credit Union (headquartered in Portsmouth, branches throughout NH including Hillsborough County) One of New Hampshire's largest credit unions. Offers small-business loans, SBA products, and personal loans that can be used for business purposes. Often more flexible on credit than a big bank. • St. Mary's Bank (Manchester, NH) Founded in 1908 and one of the oldest credit unions in the United States. Deep roots in Manchester's immigrant communities. Offers business checking, small-business loans, and personal loans. Known for relationship-based lending — they want to talk to you, not just run your numbers. Website: stmarysbank.com • Greater Manchester Federal Credit Union A smaller community credit union serving Manchester residents and workers. Worth a conversation if you are based in Manchester and want a local, relationship-first lender. • Granite State Credit Union (Manchester, NH) Serves members across southern New Hampshire including Hillsborough County. Offers personal and small-business financial products. granitestatecu.com --- ITIN-Friendly and Immigrant-Serving Lenders --- • NH Community Loan Fund: Accepts ITIN borrowers for certain loan products. Ask directly when you call. • St. Mary's Bank: Has a history of serving Manchester's immigrant communities and is receptive to ITIN borrowers on a case-by-case basis. • Accion Opportunity Fund (national CDFI with online access): A national CDFI that specifically welcomes ITIN borrowers. While not physically located in Hillsborough County, they actively serve New Hampshire small businesses online and can be a strong complement to local resources. accionopportunityfund.org --- Community Banks with Local Presence --- • Meredith Village Savings Bank and Laconia Savings Bank have SBA lending capacity and serve southern NH. • Bangor Savings Bank has branches in NH and offers SBA 7(a) loans with a community-bank approach. • TD Bank and Citizen's Bank have Hillsborough County branches and participate in SBA lending, though their underwriting is more conventional.

§ 05 — What to avoid

New Hampshire State-Specific Regulatory Notes

New Hampshire has a few important characteristics that affect how financing works here: • Business Registration: New Hampshire requires most businesses — including sole proprietors doing business under a trade name — to register with the NH Secretary of State. The fee is modest and the process is online at sos.nh.gov. Lenders will ask for this. If you are not yet registered, do it before you apply. • No State Income Tax on Wages: New Hampshire does not tax wages or salaries. This simplifies your personal tax picture. However, the Business Profits Tax (BPT) applies to businesses earning over $92,000 in gross receipts (as of recent thresholds). Lenders may ask whether your business is subject to BPT. Your accountant or NH SBDC advisor can clarify. • Business Enterprise Tax (BET): A separate NH tax on business enterprise value (wages, interest paid, dividends paid). Again, thresholds apply. This affects how you structure debt in your business, so it is worth a brief conversation with an accountant. • Contractor Licensing: Solo contractors in trades like electrical, plumbing, HVAC, and construction must be licensed through the NH Office of Professional Licensure and Certification (OPLC). Lenders who serve contractors in this market will expect to see your license. An expired or missing license can delay a loan approval. • NH Housing Finance Authority (NHHFA): For real-estate investors — particularly those working on affordable rental housing — NHHFA administers state and federal housing tax credits and low-interest financing. If you are developing or rehabilitating rental housing in Hillsborough County, their programs may apply. nhhfa.org • InvestNH and NH CDFA: The NH Community Development Finance Authority (CDFA) administers state tax-credit programs that incentivize investment in CDFIs and community development projects. Not a direct lending resource, but relevant if you are working on a larger community development project in Nashua or Manchester.

§ 06 — Ask a question

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§ 07 — Part of The Legacy Bridge Network

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