Raising Money for Specialty Trade Contractors

Looking for business loans for specialty trade contractors? An SBA loan may be just what you've been looking for. This $29,800 specialty trade contractors loan was issued by a Maine bank.

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

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
BIDDEFORD, ME 04005

SBA Loan Lender

BIDDEFORD SAVINGS BANK
254 MAIN ST
BIDDEFORD, ME 04005

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238990 - Specialty Trade Contractors

Loan Approval Date

10/30/2006

Loan Approval Gross Amount

$29,800

Loan Approval from the SBA

Of the total $29,800 loan amount, the SBA guaranteed $14,900.

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 only one employee. The loan application indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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.

While you may be able to find other ways to get money to start a business, 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:

Determining Proper Capital Structure for a Business

Where to Get an SBA Loan in Biddeford, Maine

SBA Lenders in Maine