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May 11, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Hyannis, Business Loans > Td Banknorth Hyannis Business Loans > Commercial Laundry And Drycleaning Equipment Loan | ||||
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Raising Money in Marstons Mills, Massachusetts With SBA Loans
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Get an SBA Loan for Commercial Laundry, Drycleaning, and Pressing Machine ManufacturingLooking for bank loans for commercial laundry, drycleaning, and pressing machine manufacturing? Try the SBA. This $20,000 commercial laundry, drycleaning, and pressing machine manufacturing loan was issued by a Massachusetts bank. This company knew how to go about getting a business bank loan. Based in Marstons Mills, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Td Banknorth, based in Hyannis, Massachusetts. SBA Loan Borrower COMPANY TYPE: COMMERCIAL LAUNDRY AND DRYCLEANING EQUIPMENT SBA Loan Lender TD BANKNORTH 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 3582 - Commercial Laundry and Drycleaning Equipment NAICS Code 333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing Loan Approval Date 9/17/2001 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $17,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Raising VC Money for Social Networking Companies Small Bank Loans in Hyannis, Massachusetts
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