Bangor, Maine Business Gets SBA-Guaranteed Funding from Bangor Savings Bank

Bangor Savings Bank has a track record as a leading provider of SBA loans. Find out how this Maine entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Bangor, Maine, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Bangor Savings Bank, based in Bangor, Maine.

SBA Loan Borrower

COMPANY TYPE: TILE AND TERRAZZO CONTRACTORS
BANGOR, ME 04401

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238340 - Tile and Terrazzo Contractors

Loan Approval Date

1/17/2006

Loan Approval Gross Amount

$322,000

Loan Approval from the SBA

Of the total $322,000 loan amount, the SBA guaranteed $241,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Bangor ME, you ought to talk with a local Bangor SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bangor businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $322,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

The Friends and Family Network

Best Bangor, Maine Banks for Small Business

Getting an SBA Loan in Maine