Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

MA Business Loan from Td Banknorth

 

 
Loan Census SBA Loan Info

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

TD BANKNORTH
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.

SIC Code

7532 - Top and Body Repair and Paint Shops

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

4/12/2000

Loan Approval Gross Amount

$90,000

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.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

Best Banks in Harwich Port, Massachusetts

Massachusetts SBA 7A Lenders