Firm Gets a Maine SBA 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 Corinth, Maine by studying this loan to a local company, made back in 2004. Banks like Bar Harbor Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SCHOOL BUSES
CORINTH, ME 04427

SBA Loan Lender

BAR HARBOR BANK & TRUST
82 MAIN ST
BAR HARBOR, ME 04609

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4151 - School Buses

NAICS Code

485410 - School and Employee Bus Transportation

Loan Approval Date

11/29/2004

Loan Approval Gross Amount

$312,800

Loan Approval from the SBA

Of the total $312,800 loan amount, the SBA guaranteed $156,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Corinth ME, you ought to talk with a local Corinth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Corinth businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bar Harbor Bank & Trust and they will explain how you can get an SBA loan for your company.

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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