SBA Loan from Bank Of America Helps Electrical Contractors Company
Bank Of America has a track record as a leading provider of SBA loans. Find out how this Maine entrepreneur received an SBA loan from them.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bradford, Maine was able to borrow $69,000 from Bank Of America. The SBA made the loan possible by guaranteeing $34,500 of this Maine small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL CONTRACTORS
BRADFORD, ME 04410
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This lender processed this SBA bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
235310 - Electrical Contractors
Loan Approval Date
9/26/2001
Loan Approval Gross Amount
$69,000
Loan Approval from the SBA
Of the total $69,000 loan amount, the SBA guaranteed $34,500.
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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $69,000 loan. Remember, if it to be, it is up to me!
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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