Montvale, NJ Entrepreneur Gets SBA Loan to Buy The UPS Store Franchise

Need a loan to invest in a UPS Store franchise? Td Banknorth has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a The UPS Store franchise may simply require a phone call to a local SBA banker. In 2005, Td Banknorth issued an SBA franchise loan to an entrepreneur in Montvale, New Jersey. Because The UPS Store was registered with the SBA's registry of franchises, this New Jersey small business loan was issued on an expedited basis.

SBA Loan Borrower

THE UPS STORE
MONTVALE, NJ 07645

SBA Loan Lender

TD BANKNORTH
PARK 80 WEST/PLAZA 2
SADDLE BROOK, NJ 07663

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

1/11/2005

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a The UPS Store franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The UPS Store

Debt Financing

Good Banks for Small Business in Saddle Brook, New Jersey

Getting an SBA Loan in New Jersey