Teaneck, NJ Entrepreneur Gets SBA Loan to Buy The UPS Store Franchise

Need money to buy a UPS Store franchise? Td Banknorth has a history of making these loans and they are guaranteed by the SBA.

The UPS Store franchise loans are available to Teaneck, New Jersey entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Td Banknorth, based in Saddle Brook, New Jersey, issued an SBA franchise loan for a The UPS Store franchise in 2004. We've got all the details on this New Jersey small business loan.

SBA Loan Borrower

UPS STORE (THE)
TEANECK, NJ 07666

SBA Loan Lender

TD BANKNORTH
PARK 80 WEST/PLAZA 2
SADDLE BROOK, NJ 07663

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

3/22/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a The UPS Store franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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:

The UPS Store

Business Line of Credit

SBA 7A Lenders in Saddle Brook, New Jersey

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