Bangor, Maine Bank Lends Money to Broadwoven Fabric Mills Company in Corinna, Maine

Get to know Bangor, Maine banks that specialize in small business 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 Corinna, Maine starts with an understanding of who else has gotten loans in the area. In this case, a small company 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: BROADWOVEN FABRIC MILLS
CORINNA, ME 04928

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This lender processed this debt financing 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

313210 - Broadwoven Fabric Mills

Loan Approval Date

11/10/2004

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bangor Savings Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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