Raising Money for Hobby, Toy, and Game Stores

Looking for business loans for hobby, toy, and game stores? The SBA may be the answer. This $36,000 hobby, toy, and game stores loan was issued by a Maine bank.

This small business knew how to go about getting a business bank loan. Based in Noridgewock, Maine, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bangor Savings Bank, based in Bangor, Maine.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
NORIDGEWOCK, ME 04957

SBA Loan Lender

BANGOR SAVINGS BANK
99 FRANKLIN ST
BANGOR, ME 04401

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

6/22/2007

Loan Approval Gross Amount

$36,000

Loan Approval from the SBA

Of the total $36,000 loan amount, the SBA guaranteed $30,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Noridgewock ME, you ought to talk with a local Noridgewock SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Noridgewock businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Obtaining Funding - How to Decide How Much to Raise

SBA Approved Banks in Bangor, Maine

SBA Participating Banks in Maine