Td Banknorth SBA Loan to Full-Service Restaurants Company

Td Banknorth and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maine entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Berwick (census Name For Berwi, Maine, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Td Banknorth, based in Portland, Maine.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BERWICK (CENSUS NAME FOR BERWI, ME 03901

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/24/2004

Loan Approval Gross Amount

$580,000

Loan Approval from the SBA

Of the total $580,000 loan amount, the SBA guaranteed $435,000.

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 5 employees. This SBA loan request indicated that the loan would help generate 32 new jobs and retain 37 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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 From a Venture Capitalist

Where to Get an SBA Loan in Portland, Maine

Where to Get an SBA Loan Maine