Eliot, Maine Entrepreneur Gets a Business Loan
Would a Maine bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Maine bank, which offers SBA loans to Maine entrepreneurs.
This business, based in Eliot, Maine, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Kennebunk Savings Bank. We've got the inside scoop on this Maine small business loan.
SBA Loan Borrower
COMPANY TYPE: BRIDGE, TUNNEL, AND ELEVATED HIGHWAY CONSTRUCTION
ELIOT, ME 03903
SBA Loan Lender
KENNEBUNK SAVINGS BANK
104 MAIN ST
KENNEBUNK, ME 04043
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
1622 - Bridge, Tunnel, and Elevated Highway Construction
NAICS Code
234120 - Bridge and Tunnel Construction
Loan Approval Date
2/20/2001
Loan Approval Gross Amount
$128,000
Loan Approval from the SBA
Of the total $128,000 loan amount, the SBA guaranteed $108,800.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 3 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Kennebunk Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Small Business Loan
SBA 7A Lenders in Kennebunk, Maine
Getting an SBA Loan in Maine