Portland, Maine Lender Lends Money to Scrap And Waste Materials Company
Want to talk with a Portland, Maine bank about an SBA loan? Here's one Maine business loan, issued by a Portland bank, that was approved by the SBA.
Applying for an SBA loan with Norway Savings Bank worked out well for our friends at one local company in Lewiston, Maine. The business was able to get an SBA loan for $900,000. Great job!
SBA Loan Borrower
COMPANY TYPE: SCRAP AND WASTE MATERIALS
LEWISTON, ME 04240
SBA Loan Lender
NORWAY SAVINGS BANK
1200 CONGRESS ST
PORTLAND, ME 04102
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5093 - Scrap and Waste Materials
NAICS Code
421930 - Recyclable Material Wholesalers
Loan Approval Date
10/12/2005
Loan Approval Gross Amount
$900,000
Loan Approval from the SBA
Of the total $900,000 loan amount, the SBA guaranteed $675,000.
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 7 employees. The loan application 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?
Don't apply for a loan directly with the SBA. You need to 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.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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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