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November 14, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Portland, Business Loans > Td Banknorth Portland Business Loans > Sporting Goods Stores Loan | ||||
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SBA Lenders in Maine
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Td Banknorth SBA Loan to Sporting Goods Stores CompanyAn SBA loan from Td Banknorth typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bangor, Maine business owner got a $50,000 loan. This growing company knew how to go about getting a business bank loan. Based in Bangor, Maine, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Td Banknorth, based in Portland, Maine. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender TD BANKNORTH This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 451110 - Sporting Goods Stores Loan Approval Date 5/12/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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. Related Links: Advice on Getting a Small Business Loan SBA Participating Banks in Portland, Maine
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