Milo (census Name For Milo Cen, Maine Business Gets SBA-Guaranteed Funding from Td Banknorth
Td Banknorth is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maine entrepreneur who tapped into the power of SBA loans.
This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Td Banknorth, out of Portland, Maine. The loan was granted and they received $100,000 to help grow their Milo (census Name For Milo Cen, Maine business.
SBA Loan Borrower
COMPANY TYPE: SHOWCASE, PARTITION, SHELVING, AND LOCKER MANUFACTURING
MILO (CENSUS NAME FOR MILO CEN, ME 04463
SBA Loan Lender
TD BANKNORTH
1 PORTLAND SQ
PORTLAND, ME 04101
This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
337215 - Showcase, Partition, Shelving, and Locker Manufacturing
Loan Approval Date
3/20/2003
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 55 employees. The loan application indicated that the loan would help retain 55 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
While you may be able to find other ways to get money to start a business, 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:
Small Business Credit Cards
Best Banks in Portland, Maine
Browse All Business Loan Sources for Maine