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November 15, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Portland, Business Loans > Td Banknorth Portland Business Loans > Farm Supplies Loan | ||||
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Maine Bank SBA Loans
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Td Banknorth SBA Loan to Farm Supplies CompanyLooking to get a Maine small business loan? Here's one Maine business loan that was approved by the SBA. This up and coming company knew how to go about getting a business bank loan. Based in Gorham, Maine, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Td Banknorth, based in Portland, Maine. SBA Loan Borrower COMPANY TYPE: FARM SUPPLIES SBA Loan Lender TD BANKNORTH This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5191 - Farm Supplies Loan Approval Date 6/8/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Td Banknorth so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Bank Loans in Portland, Maine
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