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December 19, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Mahwah, Business Loans > Td Banknorth Mahwah Business Loans > Caterers Loan | ||||
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Small Business Banks in New Jersey
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Borrowing Money for CaterersWith these loans for caterers, the SBA guarantees the lender that the loan will be repaid. This caterers loan for $240,000 was given to a New Jersey entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Berlin, New Jersey was able to borrow $240,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $180,000 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: CATERERS SBA Loan Lender TD BANKNORTH This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722320 - Caterers Loan Approval Date 4/29/2005 Loan Approval Gross Amount $240,000 Loan Approval from the SBA Of the total $240,000 loan amount, the SBA guaranteed $180,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan 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. This SBA loan was for $240,000. How would you spend $240,000 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. Related Links: Accountant's Role in Securing Financing Find an SBA Lender in Mahwah, New Jersey
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