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May 1, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Worcester, Business Loans > Td Banknorth Worcester Business Loans > Boat Building And Repairing Loan | ||||
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SBA Lender Worcester
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Worcester, Massachusetts Bank Gives SBA Loan to Boat Building And Repairing CompanyA Worcester, Massachusetts SBA loan can be yours. Learn how a business got a $1,160,000 business loan from this Massachusetts bank. This loan to an entrepreneur is a good example of an SBA loan. Td Banknorth made the loan and the SBA guaranteed a portion of the loan. Many other Massachusetts entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BOAT BUILDING AND REPAIRING SBA Loan Lender TD BANKNORTH This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3732 - Boat Building and Repairing NAICS Code 811490 - Personal and Household Goods Repair and Maintenance Loan Approval Date 9/30/2003 Loan Approval Gross Amount $1,160,000 Loan Approval from the SBA Of the total $1,160,000 loan amount, the SBA guaranteed $870,000. 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 29 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Td Banknorth had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Td Banknorth made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - Friends and Family Best Banks in Worcester, Massachusetts
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