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November 15, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Lewiston, Business Loans > Northeast Bank Lewiston Business Loans > Heavy Construction Loan | ||||
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How to Get SBA Loans in Lebanon, Maine
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How to Get a Loan for Heavy ConstructionLooking for business loans for heavy construction? The SBA may be the answer. This $100,000 heavy construction loan was issued by a Maine bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lebanon, Maine was able to borrow $100,000 from Northeast Bank. The SBA made the loan possible by guaranteeing $85,000 of this Maine small business loan. SBA Loan Borrower COMPANY TYPE: HEAVY CONSTRUCTION SBA Loan Lender NORTHEAST BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1629 - Heavy Construction NAICS Code 234990 - Heavy Construction Loan Approval Date 11/3/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 2 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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:
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