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December 20, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Saddle Brook, Business Loans > Td Banknorth Saddle Brook Business Loans > Residential Remodelers Loan | ||||
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Td Banknorth
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SBA Loan from Td Banknorth Helps Residential Remodelers CompanyAn SBA loan from Td Banknorth typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brooklyn, New York business owner got a $100,000 loan. Getting a small business loan in Brooklyn, New York was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Td Banknorth, operating out of Saddle Brook, New Jersey. Here are the details on this New York small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS SBA Loan Lender TD BANKNORTH The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 236118 - Residential Remodelers Loan Approval Date 11/7/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you want money for new small business in Brooklyn NY, you ought to talk with a local Brooklyn SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brooklyn businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Saddle Brook, New Jersey Getting an SBA Loan in New Jersey
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