Mahwah, New Jersey Bank Gives SBA Loan to Family Clothing Stores Company

Get to know Mahwah, New Jersey banks that specialize in SBA loans and know how to work with entrepreneurs. Td Banknorth is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Philadelphia, Pennsylvania starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Td Banknorth. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
PHILADELPHIA, PA 19107

SBA Loan Lender

TD BANKNORTH
1000 MACARTHUR BLVD
MAHWAH, NJ 07430

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

9/11/2002

Loan Approval Gross Amount

$349,700

Loan Approval from the SBA

Of the total $349,700 loan amount, the SBA guaranteed $262,275.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 14 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are working on finding money to start a business in Philadelphia PA, you ought to talk with a local Philadelphia SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Philadelphia businesses.

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.

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