Kennebunk, Maine Lender Lends Money to Convenience Stores Company

A Kennebunk, Maine SBA loan can be yours. Learn how a company got a $374,000 business loan from this Maine bank.

This loan to a local firm is a good example of an SBA loan. Rivergreen Bank made the loan and the SBA guaranteed a portion of the loan. Many other Maine entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
BUXTON, ME 04093

SBA Loan Lender

RIVERGREEN BANK
36 PORTLAND RD
KENNEBUNK, ME 04043

This business loan was provided by a banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

4/19/2006

Loan Approval Gross Amount

$374,000

Loan Approval from the SBA

Of the total $374,000 loan amount, the SBA guaranteed $280,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the company 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?

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.

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 Rivergreen 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:

A Company That Helps Entrepreneurs

Small Business Banks in Kennebunk, Maine

Browse All Business Loan Sources for Maine