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

Get to know Ellsworth, Maine banks that specialize in business loans and know how to work with entrepreneurs. Union Trust Company is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Old Town, Maine starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Union Trust Company. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
OLD TOWN, ME 04468

SBA Loan Lender

UNION TRUST COMPANY
66 MAIN ST
ELLSWORTH, ME 04605

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

621310 - Chiropractors

Loan Approval Date

6/19/2003

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

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 3 existing jobs.

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Union Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Union Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Small Business Loan

Who Lends Money to Small Businesses in Ellsworth, Maine

Getting an SBA Loan in Maine