Business Loan from Td Banknorth Given to Advertising Agencies Company
Td Banknorth and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level.
This growing company knew how to go about getting a business bank loan. Based in Stroudsburg, Pennsylvania, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Td Banknorth, based in Mahwah, New Jersey.
SBA Loan Borrower
COMPANY TYPE: ADVERTISING AGENCIES
STROUDSBURG, PA 18360
SBA Loan Lender
TD BANKNORTH
1000 MACARTHUR BLVD
MAHWAH, NJ 07430
This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
541810 - Advertising Agencies
Loan Approval Date
1/3/2005
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 20 employees. The loan application indicated that the loan would help retain 20 existing jobs.
Getting an SBA Loan For Your Business
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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:
A Company That Helps Entrepreneurs
Where to Get an SBA Loan in Mahwah, New Jersey
SBA New Jersey Lenders