Small Business Loans for Dairy Cattle and Milk Production

With these small business loans for dairy cattle and milk production, the SBA guarantees the lender that the loan will be repaid. This dairy cattle and milk production loan for $150,000 was given to a Maine entrepreneur in 2007.

This company knew how to go about getting a business bank loan. Based in Bradford, Maine, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Merrill Merchants Bank, based in Bangor, Maine.

SBA Loan Borrower

COMPANY TYPE: DAIRY CATTLE AND MILK PRODUCTION
BRADFORD, ME 04410

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112120 - Dairy Cattle and Milk Production

Loan Approval Date

1/16/2007

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 3 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Merrill Merchants Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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SBA 7A Banks in Bangor, Maine

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