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May 13, 2024 |
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| Home > Small Business Lenders by State > Vermont Business Loan Sources > Portland, Business Loans > Td Banknorth Portland Business Loans > Schools And Instruction Loan | ||||
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SBA 7A Banks in Vermont
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Financing for Schools and InstructionLooking for commercial loans for schools and instruction? An SBA loan may be just what you've been looking for. This $10,000 schools and instruction loan was issued by a Maine bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Manchester Center, Vermont was able to borrow $10,000 from Td Banknorth. The SBA made the loan possible by guaranteeing $5,000 of this Vermont small business loan. SBA Loan Borrower COMPANY TYPE: SCHOOLS AND INSTRUCTION SBA Loan Lender TD BANKNORTH This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 611699 - Schools and Instruction Loan Approval Date 12/15/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. While you may be able to find business people willing to loan money, 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 SBA Approved Banks in Portland, Maine
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