Lessors of Residential Buildingsv and Dwellings Small Business Loans

With these small business loans for lessors of residential buildingsv and dwellings, the SBA guarantees the lender that the loan will be repaid. This lessors of residential buildingsv and dwellings loan for $85,000 was given to a Maine entrepreneur in 2004.

Getting a small business loan in Howland (town Of), Maine was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Merrill Merchants Bank, operating out of Bangor, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF RESIDENTIAL BUILDINGSV AND DWELLINGS
HOWLAND (TOWN OF), ME 04448

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531110 - Lessors of Residential Buildingsv and Dwellings

Loan Approval Date

10/26/2004

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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. The loan application indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

If you are raising money in Howland (town Of) ME, you ought to talk with a local Howland (town Of) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Howland (town Of) businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Getting a Small Business Loan

Find an SBA Lender in Bangor, Maine

Maine SBA 7A Lenders