Hyannis, Massachusetts Business Gets SBA-Guaranteed Funding from Td Banknorth
An SBA loan from Td Banknorth typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hyannis, Massachusetts business owner got a $90,000 loan.
Getting a small business loan in Hyannis, Massachusetts was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Td Banknorth, operating out of Harwich Port, Massachusetts. Here are the details on this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS
HYANNIS, MA 02601
SBA Loan Lender
536 MAIN ST
HARWICH PORT, MA 02646
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
7532 - Top and Body Repair and Paint Shops
811121 - Automotive Body, Paint, and Interior Repair and Maintenance
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $90,000 loan amount, the SBA guaranteed $72,000.
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 3 employees. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
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.
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