Island Falls, Maine Business Gets SBA-Guaranteed Funding from Katahdin Trust Co.

Katahdin Trust Co. 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.

Getting a small business loan in Island Falls, Maine was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Katahdin Trust Co., operating out of Patten, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: SAWMILLS
ISLAND FALLS, ME 04747

SBA Loan Lender

KATAHDIN TRUST CO.
MAIN ST
PATTEN, ME 04765

This lender processed this bank 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

321113 - Sawmills

Loan Approval Date

6/22/2007

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $20,000 loan. Remember, fight for what you want, and it will be yours!

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:

Small Business Credit Cards

Best Banks for Small Business in Patten, Maine

Getting an SBA Loan in Maine