Financing for Boat Building

Looking for commercial loans for boat building? The SBA may be the answer. This $291,300 boat building loan was issued by a Maine bank.

This business knew how to go about getting a business bank loan. Based in Frankfort, Maine, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Skowhegan Savings Bank, based in Skowhegan, Maine.

SBA Loan Borrower

COMPANY TYPE: BOAT BUILDING AND REPAIRING
FRANKFORT, ME 04438

SBA Loan Lender

SKOWHEGAN SAVINGS BANK
13 ELM ST
SKOWHEGAN, ME 04976

This loan for a small business 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

3732 - Boat Building and Repairing

NAICS Code

336612 - Boat Building

Loan Approval Date

4/12/2004

Loan Approval Gross Amount

$291,300

Loan Approval from the SBA

Of the total $291,300 loan amount, the SBA guaranteed $218,475.

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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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