Td Banknorth Gives Small Business Loan to Metalworking Machinery Manufacturing Company

SBA loans in New Jersey are hard to find these days. We take a look at one New Jersey SBA loan, provided by a New Jersey bank, that was approved by the SBA.

Getting a small business loan in Middlesex, New Jersey was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Td Banknorth. Here are the details on this New Jersey small business loan.

SBA Loan Borrower

COMPANY TYPE: METALWORKING MACHINERY MANUFACTURING
MIDDLESEX, NJ 08846

SBA Loan Lender

TD BANKNORTH
1000 MACARTHUR BLVD
MAHWAH, NJ 07430

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333518 - Metalworking Machinery Manufacturing

Loan Approval Date

7/5/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $100,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Cash Advances

SBA Participating Banks in Mahwah, New Jersey

SBA New Jersey Lenders