Bangor, Maine Bank Lends Money to Fresh Fruit And Vegetable Merchant Wholesalers Company in Brownfield, Maine

Get to know Bangor, Maine banks that specialize in SBA loans and know how to work with entrepreneurs. Bangor Savings Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Brownfield, Maine starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Bangor Savings Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FRESH FRUIT AND VEGETABLE MERCHANT WHOLESALERS
BROWNFIELD, ME 04010

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424480 - Fresh Fruit and Vegetable Merchant Wholesalers

Loan Approval Date

3/26/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 11 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 11 existing jobs.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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