Maine Bank Loan Issued to Water, Sewer, And Utility Lines Company

Looking to get a Maine bank loan? This Maine entrepreneur got a bank loan, provided by a Maine bank that works with the SBA to help small business owners.

Getting a small business loan in Benton, Maine was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Skowhegan Savings Bank. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER, SEWER, AND UTILITY LINES
BENTON, ME 04901

SBA Loan Lender

SKOWHEGAN SAVINGS BANK
13 ELM ST
SKOWHEGAN, ME 04976

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1623 - Water, Sewer, and Utility Lines

NAICS Code

234910 - Water, Sewer, and Pipeline Construction

Loan Approval Date

6/27/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. This SBA loan request 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

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Skowhegan Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Banking Deregulation's Effects on Entrepreneurship

SBA Banks in Skowhegan, Maine

Maine SBA 7A Lenders