Merrill Merchants Bank SBA Loan to Single Family Housing Construction Company

An SBA loan from Merrill Merchants Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hampden, Maine business owner got a $100,000 loan.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Merrill Merchants Bank, out of Bangor, Maine. The loan was granted and they received $100,000 to help grow their Hampden, Maine business.

SBA Loan Borrower

COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
HAMPDEN, ME 04444

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

The lender provided this SBA business 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.

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

8/28/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Merrill Merchants Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Merrill Merchants 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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