Portland, Maine Bank Gives SBA Loan to Gasoline Stations With Convenience Stores Company
Get small business loans from a Portland, Maine bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.
Td Banknorth is a Portland, Maine small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Hampshire company.
SBA Loan Borrower
COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
NORTH HAVERHILL (RR NAME BLACK, NH 03774
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
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
10/4/2004
Loan Approval Gross Amount
$455,000
Loan Approval from the SBA
Of the total $455,000 loan amount, the SBA guaranteed $341,250.
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 7 employees. The SBA loan application for the borrower indicated that the loan would help retain 7 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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.
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Getting an SBA Loan in Maine