Financing for Confectionery and Nut Stores

With these loans for confectionery and nut stores, the SBA guarantees the lender that the loan will be repaid. This confectionery and nut stores loan for $50,000 was given to a Maine entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Old Orchard Beach, Maine was able to borrow $50,000 from Biddeford Savings Bank. The SBA made the loan possible by guaranteeing $25,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY AND NUT STORES
OLD ORCHARD BEACH, ME 04064

SBA Loan Lender

BIDDEFORD SAVINGS BANK
254 MAIN ST
BIDDEFORD, ME 04005

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

445292 - Confectionery and Nut Stores

Loan Approval Date

11/2/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 19 employees. The loan application indicated that the loan would help retain 19 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find other ways to get money to start a business, 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:

The Friends and Family Network

Small Bank Loans in Biddeford, Maine

Getting an SBA Loan in Maine