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December 22, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Portland, Business Loans > Td Banknorth Portland Business Loans > Atlantic Dry Cleaning Ltd Dba Loan | ||||
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Td Banknorth SBA Franchise Loans
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Loan to Buy Lapels Franchise Issued By Td BanknorthNeed a loan to invest in a Lapels franchise? Td Banknorth has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Lapels franchise? If so, here's a 2005 SBA franchise loan that you should know about. Td Banknorth was the lender and the entrepreneur was based in Ipswich, Massachusetts. SBA Loan Borrower ATLANTIC DRY CLEANING LTD DBA SBA Loan Lender TD BANKNORTH This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812310 - Coin-Operated Laundries and Drycleaners Loan Approval Date 2/21/2005 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Lapels franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 20 new jobs and retain 22 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Td Banknorth had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Td Banknorth made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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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