Entrepreneur Works With Portland, Maine Bank to Get an SBA Loan

Thinking about meeting with a Portland, Maine bank about a business loan? Here's one Massachusetts business loan, issued by a Portland bank, that was approved by the SBA.

Applying for an SBA loan with Td Banknorth worked out well for our friends at one local firm in Abington, Massachusetts. They got an SBA loan for $196,000. Nice!

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
ABINGTON, MA 02351

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

6/25/2003

Loan Approval Gross Amount

$196,000

Loan Approval from the SBA

Of the total $196,000 loan amount, the SBA guaranteed $98,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $196,000. How would you spend $196,000 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.

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Small Bank Loans in Portland, Maine

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