Maine Bank Loan Issued to General Contracting For Nonresidential Buildings Company

Looking to get a Maine small business loan? This Maine entrepreneur got a small business loan, provided by a Maine bank that works with the SBA to help small business owners.

Getting a small business loan in Orono, Maine was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Merrill Merchants Bank. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS
ORONO, ME 04473

SBA Loan Lender

MERRILL MERCHANTS BANK
201 MAIN ST
BANGOR, ME 04401

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1542 - General Contracting for Nonresidential Buildings

NAICS Code

236118 - Residential Remodelers

Loan Approval Date

4/30/2003

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $47,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Merrill Merchants Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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SBA Participating Banks in Bangor, Maine

Maine SBA 7A Lenders