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November 22, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Bangor, Business Loans > Bangor Savings Bank Bangor Business Loans > Used Car Dealers Loan | ||||
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Examples of Buxton SBA Loans
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Bank Loans for Used Car DealersLooking for bank loans for used car dealers? The SBA may be the answer. This $75,000 used car dealers loan was issued by a Maine bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Buxton, Maine was able to borrow $75,000 from Bangor Savings Bank. The SBA made the loan possible by guaranteeing $37,500 of this Maine small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS SBA Loan Lender BANGOR SAVINGS BANK This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 441120 - Used Car Dealers Loan Approval Date 7/19/2007 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. 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 Bangor Savings 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: Who Lends Money to Small Businesses in Bangor, Maine
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