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February 1, 2025 |
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| Home > Small Business Lenders by State > Connecticut Business Loan Sources > Portland, Business Loans > Td Banknorth Portland Business Loans > Used Merchandise Stores Loan | ||||
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Banks in Portland, Maine That Make SBA Loans
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Entrepreneur Works With Portland, Maine Bank to Get an SBA LoanThinking about meeting with a Portland, Maine bank about an SBA loan? Here's one Connecticut business loan, issued by a Portland bank, that was approved by the SBA. Applying for an SBA loan with Td Banknorth worked out well for our friends at one local business in Waterbury, Connecticut. They received an SBA loan for $125,000. Sweet! SBA Loan Borrower COMPANY TYPE: USED MERCHANDISE STORES SBA Loan Lender TD BANKNORTH This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 453310 - Used Merchandise Stores Loan Approval Date 6/16/2006 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $62,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 4 employees. This SBA loan request indicated that the loan would help 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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:
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