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December 21, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Bangor, Business Loans > Merrill Merchants Bank Bangor Business Loans > General Contractors-Industrial Buildings, Warehous Loan | ||||
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Maine Bank SBA Loans
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Merrill Merchants Bank SBA Loan to General Contractors-Industrial Buildings, Warehous CompanyWant a Maine SBA loan? Here's one Maine business loan that was approved by the SBA. This growing firm needed an SBA business loan in Brewer (rr Name Brewer Junctio, Maine back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Merrill Merchants Bank, operating out of Bangor, Maine. Here are the details on this Maine small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTORS-INDUSTRIAL BUILDINGS, WAREHOUS SBA Loan Lender MERRILL MERCHANTS BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 1541 - General Contractors-Industrial Buildings, Warehous Loan Approval Date 2/24/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links: Realistic Debt Financing Options
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