SBA Loan from Td Banknorth Helps Finish Carpentry Contractors 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 Hermon, Maine business owner got a $282,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Hermon, Maine, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Td Banknorth, based in Portland, Maine.

SBA Loan Borrower

COMPANY TYPE: FINISH CARPENTRY CONTRACTORS
Hermon, ME 04401

SBA Loan Lender

TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238350 - Finish Carpentry Contractors

Loan Approval Date

4/25/2005

Loan Approval Gross Amount

$282,000

Loan Approval from the SBA

Of the total $282,000 loan amount, the SBA guaranteed $211,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 7 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Hermon ME, you ought to talk with a local Hermon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hermon businesses.

We've showcased information on this loan to let you know that businesses like yours 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:

Business Line of Credit

Banks in Portland, Maine

Maine SBA 7A Banks