Company Gets a Maine Business Loan

MaineSBA loans are available to Maine entrepreneurs through the SBA. In this case, a Rhode Island bank provides the loan.

This small business, based in Biddeford, Maine, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Home Loan Invest Bank F.S.B.. We've got the inside scoop on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR FORESTRY
BIDDEFORD, ME 04005

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

115310 - Support Activities for Forestry

Loan Approval Date

6/27/2006

Loan Approval Gross Amount

$220,500

Loan Approval from the SBA

Of the total $220,500 loan amount, the SBA guaranteed $165,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We've showcased information on this loan to let you know that businesses like yours 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:

Microlending as a Small Business Funding Source

SBA Banks in Warwick, Rhode Island

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