In an effort to make credit available for these types of businesses, the BFA, in partnership with banks or lending institutions, offers the Guarantee Asset Program (GAP). Through GAP, the BFA reduces lender risk by guaranteeing up to 90% of a bank loan made to a qualifying business. GAP is an ideal financing vehicle for companies refinancing existing indebtedness.

To be eligible for a loan through GAP, a New Hampshire business must have at least 25 full-time employees, and it must offer collateral with a recent market appraisal of 1.25 times the original principal amount. The business may use up to 40% of the loan for working capital. 

If your company is interested in finding out more about GAP, contact your local bank, or the BFA at (603) 415-0190.




  • The business must have at least 25 full-time employees
  • The maturity of the loan must not exceed five years unless the credit facility includes SBA 504 financing, then maturity may not exceed 10 years
  • Up to 40% of the gross proceeds of the loan may be used to finance working capital
  • The business must provide collateral with a recent (within six months) market appraisal of 1.25 times the original principal amount


  • The business applies for a loan from the financial institution. If a guarantee under GAP is necessary, the bank will submit an application to the BFA
  • All guarantees must receive approval from the BFA and authorization from the Governor and Council of the State of New Hampshire
  • The terms of the loan will be determined by the bank, with regard to the BFA's criteria on working capital, maturity and principal repayment


  • A fee equal to 1% of the loan guarantee is due at closing
  • An annual fee of up to 2% of the loan guarantee is also required

$0 - 200,000                                            $250
$200,001 - 1,000,000                              $400
$1,000,001 - 2,000,000                           $600
$2,000,001 - 10,000,000                         $800
$10,000,001 - and over                           $1,000