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November 21, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Charlotte, Business Loans > Bank Of America Charlotte Business Loans > Masonry, Stone Setting, And Other Stone Work Loan | ||||
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Maine Small Business SBA Loans
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Firm Gets a Maine Bank LoanMaineSmall business loans are available to Maine small business owners through the SBA. In this case, a North Carolina bank provides the loan. You can learn something about getting a small business loan in Levant, Maine by studying this loan to a local company, made back in 2000. Banks like Bank Of America may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: MASONRY, STONE SETTING, AND OTHER STONE WORK SBA Loan Lender BANK OF AMERICA This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 1741 - Masonry, Stone Setting, and Other Stone Work NAICS Code 235410 - Masonry and Stone Contractors Loan Approval Date 3/28/2000 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Banks in Charlotte, North Carolina
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