Northeast Harbor, Maine Entrepreneur Gets a Business Loan

Would a Maine bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Maine bank, which offers SBA loans to Maine entrepreneurs.

By giving the right information to First, this Northeast Harbor, Maine business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: WATER TRANSPORTATION OF PASSENGERS
NORTHEAST HARBOR, ME 04662

SBA Loan Lender

FIRST
223 MAIN ST
DAMARISCOTTA, ME 04543

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4489 - Water Transportation of Passengers

NAICS Code

487210 - Scenic and Sightseeing Transportation, Water

Loan Approval Date

5/4/2005

Loan Approval Gross Amount

$262,700

Loan Approval from the SBA

Of the total $262,700 loan amount, the SBA guaranteed $197,025.

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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Obtaining Funding - Getting Venture Capital

SBA Banks in Damariscotta, Maine

Getting an SBA Loan in Maine