Holden, Maine Business Gets SBA-Guaranteed Funding from Merrill Merchants Bank

Merrill Merchants Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maine entrepreneur was able to get a loan to take a small business to the next level.

This growing company 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 $16,500 to help grow their Holden, Maine business.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
HOLDEN, ME 04429

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

This lender processed this business 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

235990 - Special Trade Contractors

Loan Approval Date

8/31/2001

Loan Approval Gross Amount

$16,500

Loan Approval from the SBA

Of the total $16,500 loan amount, the SBA guaranteed $8,250.

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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Merrill Merchants Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Find Start-Up Capital

Where to Get an SBA Loan in Bangor, Maine

Maine SBA 7A Lenders