Financing for Automotive Parts and Accessories Stores

With these loans for automotive parts and accessories stores, the SBA guarantees the lender that the loan will be repaid. This automotive parts and accessories stores loan for $198,000 was given to a Maine entrepreneur in 2003.

Getting a small business loan in Jackman, Maine was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Skowhegan Savings Bank, operating out of Skowhegan, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTO AND HOME SUPPLY STORES
JACKMAN, ME 04945

SBA Loan Lender

SKOWHEGAN SAVINGS BANK
13 ELM ST
SKOWHEGAN, ME 04976

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

8/27/2003

Loan Approval Gross Amount

$198,000

Loan Approval from the SBA

Of the total $198,000 loan amount, the SBA guaranteed $148,500.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

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

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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