Get an SBA Loan for Used Merchandise Stores

Looking for small business loans for used merchandise stores? Talk to a banker who works with the SBA. This $113,100 used merchandise stores loan was issued by a Maine bank.

This company knew how to go about getting a business bank loan. Based in New Lebanon, New York, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Td Banknorth, based in Portland, Maine.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
New Lebanon, NY 12125

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

453310 - Used Merchandise Stores

Loan Approval Date

9/21/2005

Loan Approval Gross Amount

$113,100

Loan Approval from the SBA

Of the total $113,100 loan amount, the SBA guaranteed $56,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in New Lebanon NY, you ought to talk with a local New Lebanon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Lebanon 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.

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