Td Banknorth SBA Loan to Industrial And Commercial Machinery And Equipment Company

Searching for a Massachusetts SBA loan? Here's one Massachusetts business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Chelmsford, Massachusetts, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Td Banknorth, based in Haverhill, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
CHELMSFORD, MA 01824

SBA Loan Lender

TD BANKNORTH
153 MERRIMACK ST
HAVERHILL, MA 01830

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3599 - Industrial and Commercial Machinery and Equipment

Loan Approval Date

5/25/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

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

If you are wondering how to raise money for a business in Chelmsford MA, you ought to talk with a local Chelmsford SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Chelmsford businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Bank Credit Lines

SBA 7A Lenders in Haverhill, Massachusetts

SBA Massachusetts Banks