Local Business Gets a Maine Business Loan

Business loans in Maine are tough to come by these days. We take a look at one Maine business loan, provided by a Maine bank, that was approved by the SBA.

You can learn something about getting a small business loan in Brewer (rr Name Brewer Junctio, Maine by studying this loan to a local business, made back in 2007. Banks like Bangor Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FINE ARTS SCHOOLS
BREWER (RR NAME BREWER JUNCTIO, ME 04412

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611610 - Fine Arts Schools

Loan Approval Date

3/20/2007

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. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the borrowed money would help create 8 new jobs.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bangor Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bangor Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Family and Friend Investors - Your First Financiers

SBA Approved Banks in Bangor, Maine

Find an SBA Lender in Maine