Local Business Gets a Maine Bank Loan

Looking to get a Maine business loan? This Maine entrepreneur got a business loan, provided by a Maine bank that works with the SBA to help small business owners.

Getting a small business loan in Fort Fairfield, Maine was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Katahdin Trust Co.. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: FUNERAL HOMES AND FUNERAL SERVICES
FORT FAIRFIELD, ME 04742

SBA Loan Lender

KATAHDIN TRUST CO.
MAIN ST
PATTEN, ME 04765

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

812210 - Funeral Homes and Funeral Services

Loan Approval Date

2/16/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Fort Fairfield or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Equity Financing

SBA Banks in Patten, Maine

Maine SBA 7A Lenders