SBA Loan from Maine Bank & Trust Company Helps Grocery Stores Company

An SBA loan from Maine Bank & Trust Company typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Auburn, Maine business owner got a $26,000 loan.

Getting a small business loan in Auburn, Maine was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Maine Bank & Trust Company, operating out of Auburn, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
AUBURN, ME 04210

SBA Loan Lender

MAINE BANK & TRUST COMPANY
223 CENTER ST
AUBURN, ME 04210

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5411 - Grocery Stores

NAICS Code

445120 - Convenience Stores

Loan Approval Date

11/3/2003

Loan Approval Gross Amount

$26,000

Loan Approval from the SBA

Of the total $26,000 loan amount, the SBA guaranteed $22,100.

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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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