Raising Money for Overhead Traveling Crane, Hoist, and Monorail System Manufacturing

With these business loans for overhead traveling crane, hoist, and monorail system manufacturing, the SBA guarantees the lender that the loan will be repaid. This overhead traveling crane, hoist, and monorail system manufacturing loan for $400,000 was given to a Maine entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pittsfield, Maine was able to borrow $400,000 from Northeast Bank. The SBA made the loan possible by guaranteeing $300,000 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: HOISTS, CRANES, AND MONORAILS
PITTSFIELD, ME 04967

SBA Loan Lender

NORTHEAST BANK
500 CANAL ST
LEWISTON, ME 04240

This SBA small business 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

3536 - Hoists, Cranes, and Monorails

NAICS Code

333923 - Overhead Traveling Crane, Hoist, and Monorail System Manufacturing

Loan Approval Date

1/10/2003

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 36 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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