Raising Money for Lessors of Nonresidential Buildings

With these bank loans for lessors of nonresidential buildings, the SBA guarantees the lender that the loan will be repaid. This lessors of nonresidential buildings loan for $194,800 was given to a Maine entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Portland, Maine was able to borrow $194,800 from Norway Savings Bank. The SBA made the loan possible by guaranteeing $97,400 of this Maine small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
PORTLAND, ME 04102

SBA Loan Lender

NORWAY SAVINGS BANK
261 MAIN ST
NORWAY, ME 04268

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

12/9/2005

Loan Approval Gross Amount

$194,800

Loan Approval from the SBA

Of the total $194,800 loan amount, the SBA guaranteed $97,400.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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