Bank Loans for Fine Arts Schools

With these bank loans for fine arts schools, the SBA guarantees the lender that the loan will be repaid. This fine arts schools loan for $548,500 was given to a Maine entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Augusta, Maine, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Savings Bank Of Maine, based in Gardiner, Maine.

SBA Loan Borrower

COMPANY TYPE: DANCE STUDIOS, SCHOOLS, AND HALLS
AUGUSTA, ME 04330

SBA Loan Lender

SAVINGS BANK OF MAINE
190 WATER ST
GARDINER, ME 04345

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7911 - Dance Studios, Schools, and Halls

NAICS Code

611610 - Fine Arts Schools

Loan Approval Date

3/22/2005

Loan Approval Gross Amount

$548,500

Loan Approval from the SBA

Of the total $548,500 loan amount, the SBA guaranteed $411,375.

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 3 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Augusta or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Advice on Getting a Small Business Loan

Small Bank Loans in Gardiner, Maine

SBA Lenders in Maine