Rivergreen Bank SBA Loan to Nitrogenous Fertilizers Company
Rivergreen Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maine entrepreneur was able to get a loan to take a small business to the next level.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lyman, Maine was able to borrow $600,000 from Rivergreen Bank. The SBA made the loan possible by guaranteeing $450,000 of 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
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.
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
10/6/2003
Loan Approval Gross Amount
$600,000
Loan Approval from the SBA
Of the total $600,000 loan amount, the SBA guaranteed $450,000.
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 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
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:
The Friends and Family Network
SBA Approved Banks in Kennebunk, Maine
Getting an SBA Loan in Maine