Entrepreneur Works With Madawaska, Maine Bank to Get an SBA Loan

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

Norstate Fcu is a Madawaska, 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: HOME CENTERS
FORT KENT (CENSUS NAME FOR FOR, ME 04743

SBA Loan Lender

NORSTATE FCU
78 FOX ST
MADAWASKA, ME 04756

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

444110 - Home Centers

Loan Approval Date

6/29/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 14 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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