Td Banknorth SBA Loan to Employment Agencies Company
Want a Massachusetts business loan? Here's one Massachusetts business loan that was approved by the SBA.
This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Td Banknorth, out of Lowell, Massachusetts. The loan was granted and they received $150,000 to help grow their Lowell, Massachusetts business.
SBA Loan Borrower
COMPANY TYPE: EMPLOYMENT AGENCIES
LOWELL, MA 01851
SBA Loan Lender
TD BANKNORTH
45 CENTRAL ST
LOWELL, MA 01852
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
7361 - Employment Agencies
NAICS Code
561310 -
Loan Approval Date
11/23/2001
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
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 92 employees. The SBA loan documents did not indicate that the small business planned to use the money 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.
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:
Direct Public Offerings
SBA 7A Lenders in Lowell, Massachusetts
SBA Massachusetts Banks