Where to Get Capital for Yarn Spinning Mills

With these SBA loans for yarn spinning mills, the SBA guarantees the lender that the loan will be repaid. This yarn spinning mills loan for $150,000 was given to a New Hampshire entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Harrisville, New Hampshire was able to borrow $150,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $112,500 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: YARN SPINNING MILLS
Harrisville, NH 03450

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

313111 - Yarn Spinning Mills

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 25 employees. The loan application indicated that the loan would help retain 25 existing jobs.

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Td Banknorth and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Portland, Maine Loans

Maine SBA Bank Lenders