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November 15, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Sanford, Business Loans > Sanford Institution For Saving Sanford Business Loans > Paint, Glass, And Wallpaper Stores Loan | ||||
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Sanford, Maine Bank for SBA Loans
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Sanford, Maine Bank Lends Money to Paint, Glass, And Wallpaper Stores Company in Alfred, MaineA Sanford, Maine business loan can be yours. Learn how a company got a $113,000 business loan from this Maine bank. This loan to an entrepreneur is a good example of an SBA loan. Sanford Institution For Saving made the loan and the SBA guaranteed a portion of the loan. Many other Maine entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: PAINT, GLASS, AND WALLPAPER STORES SBA Loan Lender SANFORD INSTITUTION FOR SAVING This lender issued this small business loan under the SBA's 7A loan, 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. SIC Code 5231 - Paint, Glass, and Wallpaper Stores NAICS Code 444120 - Paint and Wallpaper Stores Loan Approval Date 10/21/2002 Loan Approval Gross Amount $113,000 Loan Approval from the SBA Of the total $113,000 loan amount, the SBA guaranteed $84,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. 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: Best Sanford, Maine Banks for Small Business
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