How to Get a Loan for Specialty Trade Contractors

Looking for business loans for specialty trade contractors? The SBA may be the answer. This $177,000 specialty trade contractors loan was issued by a Maine bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Merrill Merchants Bank, out of Bangor, Maine. The loan was granted and they received $177,000 to help grow their Alton, Maine business.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
ALTON, ME 04468

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

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

238990 - Specialty Trade Contractors

Loan Approval Date

10/18/2004

Loan Approval Gross Amount

$177,000

Loan Approval from the SBA

Of the total $177,000 loan amount, the SBA guaranteed $132,750.

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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Alton ME, you ought to talk with a local Alton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Alton businesses.

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:

Equity Financing

SBA 7A Banks in Bangor, Maine

Find an SBA Lender in Maine