Bank Loans for Nondepository Credit Intermediation
Looking for bank loans for nondepository credit intermediation? Talk to a banker who works with the SBA. This $114,400 nondepository credit intermediation loan was issued by a Maine bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bridgton, Maine was able to borrow $114,400 from Norway Savings Bank. The SBA made the loan possible by guaranteeing $97,240 of this Maine small business loan.
SBA Loan Borrower
COMPANY TYPE: USED MERCHANDISE STORES
BRIDGTON, ME 04009
SBA Loan Lender
NORWAY SAVINGS BANK
261 MAIN ST
NORWAY, ME 04268
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5932 - Used Merchandise Stores
NAICS Code
522298 - Nondepository Credit Intermediation
Loan Approval Date
2/19/2002
Loan Approval Gross Amount
$114,400
Loan Approval from the SBA
Of the total $114,400 loan amount, the SBA guaranteed $97,240.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
This SBA loan was for $114,400. How would you spend $114,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
How Equity Dilution Works
SBA Approved Banks in Norway, Maine
Find an SBA Lender in Maine