Business Loans for Electronic Shopping and Mail-Order Houses

With these business loans for electronic shopping and mail-order houses, the SBA guarantees the lender that the loan will be repaid. This electronic shopping and mail-order houses loan for $650,000 was given to a Maine entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Portland, Maine was able to borrow $650,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $487,500 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: CATALOG AND MAIL-ORDER HOUSES
PORTLAND, ME 04103

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

When this loan was made, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5961 - Catalog and Mail-Order Houses

NAICS Code

454110 - Electronic Shopping and Mail-Order Houses

Loan Approval Date

5/15/2000

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 105 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Td Banknorth so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Startup Funding Tip

Banks in Portland, Maine

SBA Maine Lenders