SBA Loan from Td Banknorth Helps Insurance Related Activities Company

Td Banknorth has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Td Banknorth, out of Saddle Brook, New Jersey. The loan was granted and they received $451,500 to help grow their Union City, New Jersey business.

SBA Loan Borrower

COMPANY TYPE: INSURANCE RELATED ACTIVITIES
Union City, NJ 07087

SBA Loan Lender

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

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

524298 - Insurance Related Activities

Loan Approval Date

6/20/2006

Loan Approval Gross Amount

$451,500

Loan Approval from the SBA

Of the total $451,500 loan amount, the SBA guaranteed $338,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Td Banknorth so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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