Freeport, Maine Entrepreneur Gets a Bank Loan

Would a Maine business loan help your company expand? If so, you may want to talk with this Maine bank, which offers SBA loans to Maine entrepreneurs.

Getting a small business loan in Freeport, Maine was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bangor Savings Bank. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: REAL ESTATE APPRAISERS
FREEPORT, ME 04032

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

531320 - Real Estate Appraisers

Loan Approval Date

11/8/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bangor Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bangor Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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Understanding Dilution

SBA Approved Banks in Bangor, Maine

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