Camden, Maine Bank Gives SBA Loan to Beauty Shops Company

Get SBA loans from a Camden, Maine bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Camden National Bank is a Camden, Maine small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Maine company.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
DAMARISCOTTA, ME 04539

SBA Loan Lender

CAMDEN NATIONAL BANK
2 ELM ST
CAMDEN, ME 04843

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/12/2001

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Damariscotta ME, you ought to talk with a local Damariscotta SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Damariscotta businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Friends and Family Network

Best Camden, Maine Banks for Small Business

Getting an SBA Loan in Maine