Where to Get Capital for Commercial and Institutional Building Construction

With these SBA loans for commercial and institutional building construction, the SBA guarantees the lender that the loan will be repaid. This commercial and institutional building construction loan for $20,000 was given to a Maine entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lewiston, Maine was able to borrow $20,000 from Androscoggin Savings Bank. The SBA made the loan possible by guaranteeing $10,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INSTITUTIONAL BUILDING CONSTRUCTION
LEWISTON, ME 04240

SBA Loan Lender

ANDROSCOGGIN SAVINGS BANK
30 LISBON ST
LEWISTON, ME 04240

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.

NAICS Code

236220 - Commercial and Institutional Building Construction

Loan Approval Date

6/14/2006

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 a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Lewiston ME, you ought to talk with a local Lewiston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lewiston businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Androscoggin Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Androscoggin Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Microlending as a Small Business Funding Source

SBA Approved Banks in Lewiston, Maine

Maine SBA 7A Banks