Presque Isle, Maine Bank Lends Money to Repair Shops And Related Services Company in East Millinocket, Maine

Thinking about meeting with a Presque Isle, Maine bank about a business loan? Here's one Maine business loan, issued by a Presque Isle bank, that was approved by the SBA.

Applying for an SBA loan with Savings Bank Of Maine worked out well for our friends at one local business in East Millinocket, Maine. The business was able to get an SBA loan for $265,000. Great job!

SBA Loan Borrower

COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
EAST MILLINOCKET, ME 04430

SBA Loan Lender

SAVINGS BANK OF MAINE
9 DYER ST
PRESQUE ISLE, ME 04769

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7699 - Repair Shops and Related Services

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

10/6/2004

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 11 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $265,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Understanding Dilution

SBA 7A Lenders in Presque Isle, Maine

Getting a Business Loan in Maine