Entrepreneur Works With Portland, Maine Bank to Get an SBA Loan

Thinking about meeting with a Portland, Maine bank about a business loan? Here's one Maine business loan, issued by a Portland bank, that was approved by the SBA.

Applying for an SBA loan with Maine Bank & Trust Company worked out well for our friends at one local company in Naples, Maine. The business was able to get an SBA loan for $119,800. Sweet!

SBA Loan Borrower

COMPANY TYPE: RETAIL NURSERIES, LAWN AND GARDEN SUPPLY STORES
NAPLES, ME 04055

SBA Loan Lender

MAINE BANK & TRUST COMPANY
467 CONGRESS ST
PORTLAND, ME 04104

This SBA loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5261 - Retail Nurseries, Lawn and Garden Supply Stores

NAICS Code

444220 - Nursery and Garden Centers

Loan Approval Date

9/29/2005

Loan Approval Gross Amount

$119,800

Loan Approval from the SBA

Of the total $119,800 loan amount, the SBA guaranteed $89,850.

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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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

Small Business Banks in Portland, Maine

Maine SBA Bank Lenders