Entrepreneur Works With Gorham, Maine Bank to Get an SBA Loan

Want to talk with a Gorham, Maine bank about a business loan? Here's one Maine business loan, issued by a Gorham bank, that was approved by the SBA.

Applying for an SBA loan with Norway Savings Bank worked out well for our friends at one local company in Buxton, Maine. They got an SBA loan for $314,000. Nice!

SBA Loan Borrower

COMPANY TYPE: LIQUEFIED PETROLEUM GAS DEALERS
BUXTON, ME 04093

SBA Loan Lender

NORWAY SAVINGS BANK
65 MAIN ST
GORHAM, ME 04038

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454312 - Liquefied Petroleum Gas Dealers

Loan Approval Date

12/6/2007

Loan Approval Gross Amount

$314,000

Loan Approval from the SBA

Of the total $314,000 loan amount, the SBA guaranteed $235,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Norway Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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