Borrowing Money for Textile and Fabric Finishing Mills

Looking for small business loans for textile and fabric finishing mills? An SBA loan may be just what you've been looking for. This $242,000 textile and fabric finishing mills loan was issued by a Maine bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Portsmouth, New Hampshire was able to borrow $242,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $121,000 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE AND FABRIC FINISHING MILLS
Portsmouth, NH 03801

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This business 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

313312 - Textile and Fabric Finishing Mills

Loan Approval Date

4/21/2005

Loan Approval Gross Amount

$242,000

Loan Approval from the SBA

Of the total $242,000 loan amount, the SBA guaranteed $121,000.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Portland, Maine

Maine SBA Bank Lenders