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November 15, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Saddle Brook, Business Loans > Td Banknorth Saddle Brook Business Loans > General Purpose Machinery Manufacturing Loan | ||||
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New Jersey Bank SBA Loans
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Td Banknorth SBA Loan to General Purpose Machinery Manufacturing CompanyTd Banknorth and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey 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 Ringwood, New Jersey was able to borrow $250,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $187,500 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL PURPOSE MACHINERY MANUFACTURING SBA Loan Lender TD BANKNORTH This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333999 - General Purpose Machinery Manufacturing Loan Approval Date 12/21/2005 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 50 employees. This SBA loan request indicated that the loan would help retain 50 existing jobs. Getting an SBA Loan For Your Business If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money 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. Related Links: Good Banks for Small Business in Saddle Brook, New Jersey
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