Loans for Automotive Mechanical and Electrical Repair and Maintenance

Looking for loans for automotive mechanical and electrical repair and maintenance? An SBA loan may be just what you've been looking for. This $5,000 automotive mechanical and electrical repair and maintenance loan was issued by a Maine bank.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Merrill Merchants Bank, out of Bangor, Maine. The loan was granted and they received $5,000 to help grow their Hampden, Maine business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
HAMPDEN, ME 04444

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

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.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

2/10/2000

Loan Approval Gross Amount

$5,000

Loan Approval from the SBA

Of the total $5,000 loan amount, the SBA guaranteed $2,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Hampden ME, you ought to talk with a local Hampden SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hampden businesses.

While you may be able to find other ways to get money to start a business, 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.

Related Links:

Bank Credit Lines

Banks in Bangor, Maine

Maine SBA Bank Lenders