Company Gets a Maine Bank Loan

Want a Maine SBA loan? This Maine entrepreneur got an SBA loan, provided by a Maine bank that works with the SBA to help small business owners.

This company, based in Brewer, 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 Bangor Savings Bank. We've got the inside scoop on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
BREWER, ME 04412

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

2/23/2001

Loan Approval Gross Amount

$79,580

Loan Approval from the SBA

Of the total $79,580 loan amount, the SBA guaranteed $67,643.

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 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Brewer ME, you ought to talk with a local Brewer SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brewer businesses.

We can help you find the best banks for small businesses in Brewer or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Determining Proper Capital Structure for a Business

Best Banks for Small Business in Bangor, Maine

Getting an SBA Loan in Maine