Firm Gets a Maine Small Business Loan

Small business loans in Maine are hard to find these days. We take a look at one Maine small business loan, provided by a Maine bank, that was approved by the SBA.

You can learn something about getting a small business loan in Castine, Maine by studying this loan to a local company, made back in 2002. Banks like Union Trust Company may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
CASTINE, ME 04421

SBA Loan Lender

UNION TRUST COMPANY
66 MAIN ST
ELLSWORTH, ME 04605

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

12/5/2002

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you 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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

SBIR Funding

Good Banks for Small Business in Ellsworth, Maine

Getting an SBA Loan in Maine