Auburn, Maine Entrepreneur Gets an SBA Loan

Small business loans in Maine are hard to find these days. We take a look at one Maine small business loan, provided by a Maine bank, that was approved by the SBA.

This business, based in Auburn, Maine, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Northeast Bank. We've got the inside scoop on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
AUBURN, ME 04210

SBA Loan Lender

NORTHEAST BANK
500 CANAL ST
LEWISTON, ME 04240

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

5411 - Grocery Stores

Loan Approval Date

3/14/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $30,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application indicated that the funding would help generate 2 new jobs.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northeast Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northeast Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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Where to Get an SBA Loan Maine