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February 2, 2025 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > Eastport, Business Loans > First Eastport Business Loans > Grocery Stores Loan | ||||
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Maine Bank SBA Loans
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First SBA Loan to Grocery Stores CompanyWant a Maine business loan? Here's one Maine business loan that was approved by the SBA. This small business needed an SBA business loan in Perry, Maine back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from First, operating out of Eastport, Maine. Here are the details on this Maine small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender FIRST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 3/20/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to borrow money from friends and family, 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: Advice on Getting a Small Business Loan Where to Get an SBA Loan in Eastport, Maine
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