Business Loan from Td Banknorth Given to Residential Remodelers Company

Td Banknorth and the SBA work together to get business loans for growing small businesses. Here's an example of how a Massachusetts entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in North Billerica, Massachusetts was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Td Banknorth, operating out of Portland, Maine. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL REMODELERS
North Billerica, MA 01862

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

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

236118 - Residential Remodelers

Loan Approval Date

10/24/2007

Loan Approval Gross Amount

$214,700

Loan Approval from the SBA

Of the total $214,700 loan amount, the SBA guaranteed $161,025.

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 13 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 14 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This SBA loan was for $214,700. How would you spend $214,700 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

SBA Approved Banks in Portland, Maine

Where to Get an SBA Loan Maine