Musical Groups and Artists Bank Loans

Looking for bank loans for musical groups and artists? The SBA may be the answer. This $100,000 musical groups and artists loan was issued by a Maine bank.

Getting a small business loan in Madawska, Maine was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Norstate Fcu, operating out of Madawaska, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: BANDS, ORCHESTRAS, ACTORS AND ENTERTAINMENT
MADAWSKA, ME 04756

SBA Loan Lender

NORSTATE FCU
78 FOX ST
MADAWASKA, ME 04756

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7929 - Bands, Orchestras, Actors and Entertainment

NAICS Code

711130 - Musical Groups and Artists

Loan Approval Date

6/15/2001

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 15 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Norstate Fcu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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