Financing for Support Activities for Forestry

With these commercial loans for support activities for forestry, the SBA guarantees the lender that the loan will be repaid. This support activities for forestry loan for $52,000 was given to a Maine entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Greenville (greenville Center), Maine was able to borrow $52,000 from Merrill Merchants Bank. The SBA made the loan possible by guaranteeing $26,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR FORESTRY
GREENVILLE (GREENVILLE CENTER), ME 04441

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

This lender processed this 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

115310 - Support Activities for Forestry

Loan Approval Date

9/10/2001

Loan Approval Gross Amount

$52,000

Loan Approval from the SBA

Of the total $52,000 loan amount, the SBA guaranteed $26,000.

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 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Merrill Merchants Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Find an SBA Lender in Maine