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:

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SBA Approved Banks in Norway, Maine

Find an SBA Lender in Maine