SBA Loan from Td Banknorth Helps Hotels And Motels Company

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

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rutland, Vermont was able to borrow $632,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $474,000 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
RUTLAND, VT 05701

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This lender provides SBA 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

721110 - Hotels and Motels

Loan Approval Date

8/21/2002

Loan Approval Gross Amount

$632,000

Loan Approval from the SBA

Of the total $632,000 loan amount, the SBA guaranteed $474,000.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

We can help you find the best banks for small businesses in Rutland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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