Norway (census Name For Norway, Maine Business Gets SBA-Guaranteed Funding from Norway Savings Bank

Norway Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maine entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Norway (census Name For Norway, Maine was able to borrow $97,600 from Norway Savings Bank. The SBA made the loan possible by guaranteeing $48,800 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: WHOLESALE TRADE AGENTS AND BROKERS
NORWAY (CENSUS NAME FOR NORWAY, ME 04268

SBA Loan Lender

NORWAY SAVINGS BANK
261 MAIN ST
NORWAY, ME 04268

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

425120 - Wholesale Trade Agents and Brokers

Loan Approval Date

8/10/2005

Loan Approval Gross Amount

$97,600

Loan Approval from the SBA

Of the total $97,600 loan amount, the SBA guaranteed $48,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 1 new job and retain 2 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Credit Evaluation

SBA Banks in Norway, Maine

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