Portland, Maine Business Gets SBA-Guaranteed Funding from Saco & Biddeford Savings Insti

Saco & Biddeford Savings Insti is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Maine entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Portland, Maine, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Saco & Biddeford Savings Insti, based in Saco, Maine.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY MERCHANT WHOLESALERS
PORTLAND, ME 04103

SBA Loan Lender

SACO & BIDDEFORD SAVINGS INSTI
252 MAIN ST
SACO, ME 04072

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

424450 - Confectionery Merchant Wholesalers

Loan Approval Date

7/20/2007

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 4 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Portland ME, you ought to talk with a local Portland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portland businesses.

This SBA loan was for $10,000. How would you spend $10,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Famous Venture Capitalists

Who Lends Money to Small Businesses in Saco, Maine

Where to Get an SBA Loan Maine