Essex Junction, Vermont Business Gets SBA-Guaranteed Funding from Td Banknorth

Td Banknorth and the SBA work together to get business loans for growing small businesses. Here's an example of how a Vermont entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Essex Junction, Vermont was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Td Banknorth, operating out of Burlington, Vermont. Here are the details on this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ESSEX JUNCTION, VT 05402

SBA Loan Lender

TD BANKNORTH
111 MAIN ST
BURLINGTON, VT 05401

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

7011 - Hotels and Motels

NAICS Code

721199 - Traveler Accommodation

Loan Approval Date

11/5/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 12 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Td Banknorth and they will explain how you can get an SBA loan for your company.

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:

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