Bangor Savings Bank SBA Loan to Logging Company

Bangor Savings Bank has a track record as a leading provider of SBA loans. Find out how this Maine entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bangor Savings Bank, out of Bangor, Maine. The loan was granted and they received $211,500 to help grow their Howland, Maine business.

SBA Loan Borrower

COMPANY TYPE: LOGGING
HOWLAND, ME 04448

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

113310 - Logging

Loan Approval Date

12/15/2005

Loan Approval Gross Amount

$211,500

Loan Approval from the SBA

Of the total $211,500 loan amount, the SBA guaranteed $105,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bangor Savings Bank and they will explain how you can get an SBA loan for your company.

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:

Microlending as a Small Business Funding Source

SBA Participating Banks in Bangor, Maine

Getting a Business Loan in Maine