SBA Loan from Td Banknorth Helps Lawn And Garden Tractor And Home Lawn And Garden Equipment Manufacturing Company

An SBA loan from Td Banknorth typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a South Windham, Connecticut business owner got a $150,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Td Banknorth, out of Portland, Maine. The loan was granted and they received $150,000 to help grow their South Windham, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN TRACTOR AND HOME LAWN AND GARDEN EQUIPMENT MANUFACTURING
South Windham, CT 06266

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

333112 - Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing

Loan Approval Date

9/16/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 24 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in South Windham or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Portland, Maine

Getting a Business Loan in Maine