Get an SBA Loan for Amusement and Recreation Industries

With these bank loans for amusement and recreation industries, the SBA guarantees the lender that the loan will be repaid. This amusement and recreation industries loan for $1,290,000 was given to a Maine entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Biddeford, Maine was able to borrow $1,290,000 from Pepperell Bank & Trust. The SBA made the loan possible by guaranteeing $967,500 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
BIDDEFORD, ME 04005

SBA Loan Lender

PEPPERELL BANK & TRUST
163 MAIN ST
BIDDEFORD, ME 04005

This loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA promises a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services

NAICS Code

713990 - Amusement and Recreation Industries

Loan Approval Date

7/16/2002

Loan Approval Gross Amount

$1,290,000

Loan Approval from the SBA

Of the total $1,290,000 loan amount, the SBA guaranteed $967,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

Accountant's Role in Securing Financing

Who Lends Money to Small Businesses in Biddeford, Maine

Getting an SBA Loan in Maine