Business Loan from Machias Savings Bank Given to Games, Toys, & Children's Vehicles Company

Machias Savings 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 Machias, Maine was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Machias Savings Bank, operating out of Machias, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GAMES, TOYS, & CHILDREN'S VEHICLES
MACHIAS, ME 04654

SBA Loan Lender

MACHIAS SAVINGS BANK
4 CENTER ST
MACHIAS, ME 04654

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3944 - Games, Toys, & Children's Vehicles

NAICS Code

339932 - Game, Toy, and Children's Vehicle Manufacturing

Loan Approval Date

6/22/2000

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 20 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Machias or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Understanding Dilution

Small Business Banks in Machias, Maine

Maine SBA Banks