Business Loan from Rivergreen Bank Given to Nitrogenous Fertilizers Company
Rivergreen Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maine entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Lyman, Maine was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Rivergreen Bank, operating out of Kennebunk, Maine. Here are the details on this Maine small business loan.
SBA Loan Borrower
COMPANY TYPE: NITROGENOUS FERTILIZERS
LYMAN, ME 04002
SBA Loan Lender
RIVERGREEN BANK
36 PORTLAND RD
KENNEBUNK, ME 04043
This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2873 - Nitrogenous Fertilizers
NAICS Code
325311 - Nitrogenous Fertilizer Manufacturing
Loan Approval Date
9/10/2003
Loan Approval Gross Amount
$182,600
Loan Approval from the SBA
Of the total $182,600 loan amount, the SBA guaranteed $136,950.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 10 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans provide smart, affordable business financing for small businesses looking to expand.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $182,600 loan. Remember, where there is a will, there is a way!
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:
Getting a Small Business Loan
SBA Approved Banks in Kennebunk, Maine
Getting an SBA Loan in Maine