Business Loans for Shellfish Fishing

With these business loans for shellfish fishing, the SBA guarantees the lender that the loan will be repaid. This shellfish fishing loan for $75,300 was given to a Maine entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kennebunport, Maine was able to borrow $75,300 from Kennebunk Savings Bank. The SBA made the loan possible by guaranteeing $60,240 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: SHELLFISH
KENNEBUNPORT, ME 04046

SBA Loan Lender

KENNEBUNK SAVINGS BANK
104 MAIN ST
KENNEBUNK, ME 04043

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0913 - Shellfish

NAICS Code

114112 - Shellfish Fishing

Loan Approval Date

6/2/2000

Loan Approval Gross Amount

$75,300

Loan Approval from the SBA

Of the total $75,300 loan amount, the SBA guaranteed $60,240.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 Kennebunk 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:

Strategic Investors

SBA Participating Banks in Kennebunk, Maine

SBA Maine Banks