Business Loan from First Given to Nondurable Goods Company

An SBA loan from First typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Perry, Maine business owner got a $83,250 loan.

Getting a small business loan in Perry, Maine was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First, operating out of Bar Harbor, Maine. Here are the details on this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS
PERRY, ME 04667

SBA Loan Lender

FIRST
102 MAIN ST
BAR HARBOR, ME 04609

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5199 - Nondurable Goods

NAICS Code

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

3/12/2003

Loan Approval Gross Amount

$83,250

Loan Approval from the SBA

Of the total $83,250 loan amount, the SBA guaranteed $70,763.

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 3 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $83,250 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 Bar Harbor, Maine

Maine SBA Banks